Hey Aaron - I am over in Tampa, closeby. 

I'm going to reiterate what's already been mentioned above, but I'm going to actually give you examples of why it's relevant to you to find a U.S. tax professional.1 - You're going to need to file U.S. taxes once you have property down here, there's federal filings, state filings, and sometimes local filings too2 - Tons of tax treaties between the U.S. and Canada that are easy to miss and can cost you a lot of money (important one with rentals - effectively connected income - if the professional you talk to doesn't know what this is, run away)3 - The amount of days you spend in the U.S. needs to be tracked and if you go over a threshold, all of your worldwide income could be taxable by the U.S.4 - Selling real property means up to 15% of your sales proceeds might not be available to you for years (FIRPTA)5 - Lots of nuance at the state and local levels, which both want to take as much money from you as possibleMain takeaway here is that you should find a U.S. based tax person.

However, the property’s cost basis (what they originally paid) carries over to you, meaning if you later sell, you may owe significant capital gains tax on appreciation.Alternatively, selling the property at fair market value eliminates gift tax concerns, but your in-laws may owe capital gains tax on any profit.

FWIW I'm a current Pit owner and have had multiple dogs on the breed ban lists over my lifetime.

Quote from @John Murphy: Before spending thousands on a course like Pace Morby's, talk to the actual members.

@Veronique Leroy I would say it is possible if you force equity, hold for a few years and then sell and then average the return of the whole profit over the timeframe of deal.

Don't spend time looking for something that doesn't exist.

I’ve owned different residential homes in California, both sold off market and for over asking.

(make sure you are budgeting for maintenance and management if you plan to use it) Rent will increase over time and your property will continue to appreciate in value. 

You're going to torpedo a tenant relationship over this?