If you did a cost segregation study on the property in the past, you may have to recapture the depreciation taken in the past.capital gain tax rates are 0, 15 or 20%There is also a potential 3.8% Net Investment Income Tax.Also, don't forget state income taxes depending on what state the property is located or your state of residency.Best of luck!

I have a client that lives in Hawaii but owns a property in DC area.

What I wrote above does not create an attorney/client relationship between us.

Is it realistic to ask for and expect to get at least 2 landlord references and 2 tenant references (current clients) if I am a " small time" landlord with one property, not multiple units?

In 2014 it cost me about $42k to do this.  

Startup costs paid out of pocket should be recorded as capital contributions and may be deductible as startup expenses or amortized.

Most of our clients raise capital as equity vs debt, but both are done.

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.

It seems that often when companies acquire large books of business in one shot there are growing pains and unfortunately those are felt at the client level.

Quote from @Nic Williams: I am proud to announce that I got another client under contract on a 4Plex here in Fairbanks Alaska.