The rest of my tax/income situation is very basic.

@Account ClosedIf you receive a gift from a foreign person of USD100k or more, you would need to file Form 3520 to disclose it but a receipt of a gift is not subject to income tax.

The franchisor is incentive is too place as many locations as possible in an area to maximize royalty income and franchise fee income, up to the point that the franchisees are no longer profitable,  The franchisee on the other hand wants as few other franchisees in his area as possible since he has almost no concern about the franchisor maximizing their income, he wants to maximize HIS OWN net income and franchise value.   

To find the contacts for LLC owners you can always search for the names in Open Corporate and then skip trace their mailing address.

I've been in the industry since 2003, managing corporate rentals and investing myself.

Before putting together an LLC I would study the following:- Understand what level of protection it actually offers you and understand how to operate the LLC so that you never jeopardize the "corporate vail." - Understand risk mitigation through insurances - Understand how building a rental portfolio under an LLC changes the debt options you use when closing deals. 

Let’s say we pay X amount in mortgage.My question is : how do I calculate mortgage/interest/property tax for other house which we have rented so that I can deduct that from rental income?

Hello BiggerPockets community,I am a new Real Estate Investor and would love to get some feedback on our strategy.Goal: Achieve sustainable income of net $10K/month, while the properties appreciate long term.

Investing in individual homes feels more like an arbitrage play where you need net income to exceed lot rent to earn a cash flow.

You’re trying to lose more income than a PM costs, while doing all the work yourself.