There are two reasons this is a bad idea.Investing with an SDIRA (assuming it is not a Roth) will often result in paying significantly more taxes. 

Are there any tax implications or considerations for Canadian investors investing in the U.S. through an LP?

Now I can see some builders having an issue with comps.. but other than that its crazy to take these funds as income and then pay tax and plow it right back in.. 

The US Government and the States have but one way to deal with this, taxes.

It is your first year when you get the major tax savings windfall due to cost segregation and bonus depreciation.

Yes, you will have to file the partnership tax return.

As U.S. citizens residing in Europe, we are required by the local tax code to hold the property in our personal name.

The cashflow should cove ALL of the expenses for the primary (mortgage, taxes, insurance, utilities, etc) AND put money in their pocket.

Where to get the most recent and accurate data for things like:Unemployment dataPopulation growthJob diversity and top employers in the areaVacancy rates (eg huduser.org)Property taxes and jnsurance costsI saw bp pro and reventure and a bunch of other websites provide some of this data, but i wonder how accurate and recent it is.

You’ll have 45 days from your sale to identify them and you’ll have to buy enough of them, and only them, within 180 days of your sale to meet your 1.1M requirement, or face taxes.