(d) retained earnings from depreciation use to lower tax burden. 

- If so, 1031 into something bigger and easier to manage and then when you pass, the inheritor receives your property(s) at a stepped up basis - subject to Inheritance Tax limits.Otherwise, sell one every 1-5 years when you need the cash, so you can plan expenses to offset capital gains.

@Megan HerringtonBigger Pockets is a great place to find a real estate tax accountant. 

A 1031 exchange would use all of the tax in the purchase of your next property.

That immediate tax savings in the new property is better than the infinite tax deferral of the 1031 exchange.Some questions:1) why use an irrevocable trust?

Which increases paperwork & costs for little benefit - if any.4) You'll need an entity in the US.You need to discuss all this with a qualified tax professional or attorney.- For our clients, we provide consultations with a tax attorney that handles over 300 foreigners legal & tax needs.

Your best advice would come, for a Tax Advisor NOT a Tax Preparer (CPA).

The revenue and expense categories line up with your Schedule E which makes it a breeze to prepare for filing your taxes and I like the reporting features, too.

How do we minimize taxes on the profit we're making on this first home? 

In addition cash flow is taxed annually.