I personally recommend speaking with a CPA that specializes in Canadians investing in the US and how to best prepare your investing strategy along with understanding what taxes would look like for your specific situation. 

(up to $250,000 for individuals or $500,000 for married couples filing jointly) Consult your CPA :)

Consult your CPA but this may be way more trouble than it's worth for very small $ investment(s).

But I would consult with a CPA that specializes in STR.

A good CPA will help you save a ton on taxes as your wealth grows.Market Appreciation is where you will make the most money over a 10-year period but is the least predictable.

Speaking of networking, I'm currently looking for an attorney & CPA to help with a proper corporate structure for my current situation and plans.

Talk to a CPA regarding your specific situation to determine if income is passive or earned (active). 

I'm also in need of a CPA/tax advisor to advise on what's the best structure from a liability protection and tax planning standpoint.Thanks for your input.

If you aren't doing this with an LLC or other company, then the money is "still all yours" - you can freely do as you please with those funds (once the rents accrue enough for you to have a comfort level).I would suggest you contact a good accountant (CPA) knowledgeable in real estate matters to assist you with starting up your accounting system for this rental.

All that makes sense and also as an action item I have to keep the dialogue open with our CPA for the 2024 filing considering the deductions.