Also, based on location and size, I'm assuming the purchase is well under the $1.5mm threshold for FinCen, so the SCorp members wouldn't have to reveal themselves, although I doubt they're trying to hide their identity like some foreign billionaire or something.

Secondly, I think the tax you are referring to is what we call FIRPTA (Foreign Investment in Real Property Tax Act). 

As I recall, the China 25 are the 25 largest traded Chinese stocks that are allowed foreign investment (in this case, us).Simply put, you would buy FXI if you think the market is going up, FXP if you think down.FXI is the long play, FXP is an Ultra Short, which is to say it tries to double down on the index.

Our economy since the 70's has consisted of a large garage sale where we sell our country to foreigners.

I'll assume you meant "foreign" currency.

What are the pitfalls, etc I need to be aware of as an attorney in closing a purchase by a foreign party??...

Kumbaya foreign policy sure worked for Carter.No wait, I know.

I need a help I found a house I want to buy its a legal single but set up like a two family...my first question is how hard is it to make it into a two family...Second they want me to take out a rehab loan on the property its bank owned is this good...I am a newbie and this is all foreign to me...thank you vjb

which allowed foreigners to buy BUT ownership is limited to 50 years.

Get a degree that can actually land you a job if you need one.I also seriously suggest a foreign language.You don't need a degree to do real esate if your ultimate goal is to wear jeans with holes in the knees and hang out with small time contractors as you do small deals.That fix and flip stuff gets mighty old when you are old enough that your knees hurt and your back is screaming by the end of the day.If you expect to get up to bigger things and swim with the big fish in real estate, lacking education puts you at a real disadvantage.