You will want to fully understand the tax reporting burden you will face. 

It’s great to be trusted with others hard earned capital but I only accept that responsibility because I KNOW I can do the job - that I have done the job over the years. 

So the question becomes based on their individual and personal tax situation what is the estimated tax burden they'd save? 

Though I would caution you on hard money lending until you understand the industry a bit better, that can be very rewarding but you have to be able to do your due diligence on deals because you're turning over your hard-earned money to an individuals project, often a flip. 

Last month city established a tax incentive district on neighborhood.  

This is why so many people earn large sums of money quickly (lottery, sports, entertainment, etc.) and end up broke.Take Dave Ramsey's Financial Peace University.

.- Property Transfer Tax (Grunderwerbsteuer): 3.5-6.5%, depending on the region- Land Registration Fees: Approximately 0.5-1.5%.- Realtor Fees: As mentioned, these range from 3-7% of the purchase price, plus VAT.Benefits for Service Members- Equity Building: Owning property builds equity over time, providing long-term financial security.- Strong Rental Potential: If reassigned, you can rent the property out in Germany high-demand rental market.- Tax Advantages: Germany offers tax deductions for property owners, which can help offset some costs.Key TakeawaysService members have a unique opportunity to buy property in Germany with minimal upfront costs.

With a large portion of the incoming migration coming from international residents moving to the District, emphasizing improving and bringing back Washington D.C. sports teams to the city should create a strong desire for domestic residents to want to live near a fun, community engaging activity that is very relevant to those that live in and around the city.The District also has other programs it is running to make the District more attractive to live in outside of just working in the area, such as the Office to Anything program (Source) and the Housing in Downtown program (Source) which will incentivize developer through tax credits to convert office buildings into new construction housing and new construction retail properties, which should continue to attract more residents back to the area.D.C. also understands that with all of these big changes we have seen, the strategy and allocation of resources from the government moving forward should be reassessed to create a city that is adapting to the future trends to remain a safe and desirable place for residents to live.

But I read that there's downsides in doing that just don't know exactly what- capital gains tax, etc. also I was told to open up a new LLC and use my current LLC as the manager.

Lastly these tools can integrate directly into your bookkeeping so you can automate the income portion of your bookkeeping which will help with your analytics/reporting and save you tons of time during tax season.