People have asked me how to get started so I thought I'd share a brief guide based on my experience/research so far. I don't claim to be an expert so I encourage anyone considering investing in the US to have a read and then do their research. TL;DR In my case, I set up the LLC online, then applied for the EIN online, opened a bank account in person, then applied for the ITIN online (see tax section below). Choosing your market Deciding what market to focus on will depend on your strategy. Some say markets like California are similar to Australian property in that they generally have a high entry point, lower cash flow but increased capital appreciation. Not always will a market offer both cash flow and capital appreciation. Many investors connect with people on the ground who offer buyers agent and property management services and build a team from there. Some states are pro-landlord while others tend to be more pro-tenant so it's best to research local eviction laws. Expect to get started with at least $50,000. US Structure There is a lot of information out there that all investors should only ever use a LLC (Limited Liability Company). Everyone's situation is different so depending on the type of deal being done, this may or may not warrant a LLC. If an investor opts for a LLC to be the property owner, they must decide who will own the LLC. Whether it's an individual(s) or a Pty Ltd or trust. I personally had a US attorney establish my LLC and the operating agreement. This was all done online, took less than 1 week and cost around $850. Other variables include where the LLC is located. Laws differ between states but some investors simply opt for the LLC to be established where the property is located. The IRS has recently made foreign owned LLC's complete form 5472 to report financial transactions. Some CPA's are charging $300-$400 to complete this. The buying process In the US, a Title Company does what a Conveyancer would do in Australia. Overall, the process is similar but settlement (known as 'closing' in the US) is usually much quicker and can happen in around 1 week. A FX company such as OFX or TransferWise can assist with the funds transfer to the Title Company and then it's just a matter of getting the property documents signed and notarized. Some US states allow online notarization. Banking and finance Setting up banking in the US is much like in Australia in my opinion. You just need to visit the bank branch in person and show 2 forms of ID and the account is open. Finance for US non-residents is difficult to obtain especially as a new investor. If approved, it usually comes with higher fees/interest. Most investors tend to be 'cash buyers' which can be actual cash, using finance from other sources such as family/friends or utilising equity in Aussie property. US Tax If you are not eligible for a Social Security number, then you will eventually need to get an ITIN (Individual Taxpayer Identification Number) for you as an individual and an EIN (Employer Identification Number) for the LLC. There are paid services for this but you can do it yourself for free. In my case, I submitted the forms (W-7 for ITIN & SS-4 for EIN) to the IRS and mailed in a certified passport copy (must be certified by the passport office) for the ITIN which was eventually mailed back to me. Expect the process to take at least 2 months for each but YMMV. The US tax year is based on the calendar year and to submit your first return as a non-resident, you do not need an ITIN or EIN as they are generally applied for at the time of submitting the return (1040NR). As a non-resident, it's possible to file an extension till October instead of the usual April deadline. Any US tax paid is generally considered by the ATO to minimize double taxation due to the tax treaty. Disclaimer: I am not an advisor/planner/CPA/lawyer/expert. I am simply writing about my experiences and/or research and encourage you to do your own independent research when making any financial decision. All amounts are in US dollars.