Foreigner Funded Flipping

[Alan A.]

Hello BP,

I am getting involved in FFF (Foreigner Funded Flipping), and am curious as to what my options are for structuring the deals. 

The ultimate goal is to avoid FIRPTA while still securing my investor's assets.
I was briefly told by an attorney over coffee that the best means would be to have him create an entity, and have the entity issue me a note/mortgage with a kicker on the resale covering the split. Before meeting with him for consultation, I was hoping I could gain some insight here first.

Has anyone had any experience with FFF?
Any thoughts on the what kind of entity to use and how to secure the deed?

NOTE: "FFF" is not actually an acronym in this usage, I was just trying to appear intelligent.