Buying an income property as an ex-pat in USA

[Travis Bradley]

TL:DR - from a tax perspective, will I be losing on taxes buying a property in Canada over somewhere in the US as a US resident (Canadian Citizen)?

I know it's a shot in the dark, but hoping there are some people that understand some cross border tax here.

I am a Canadian Citizen, late 30s that has never entered the real estate market and it's personally killed me. My family has done well in real estate and it's something that I have always wanted to go. I have some REIT but decided I want in the market, However, NYC is not really a market that I want to join and my wife and I probably could not afford something we would want to live in and renting here seems like a big companies game.

I know Toronto well, and feel comfortable with the market, albeit expense, have friends there and an agent. My idea is to buy a condo there and try to rent at a close match to my mortgage and eventually live there to try and escape capital gains.

My question is more around filing taxes, and if I am missing any benefits over researching some other American markets and buying something here to rent.

Let me know if anyone has any experience, would be happy to buy someone a coffee or pay for you time!

Thanks