Also, newer wholesalers only see about half of their contracts get dispo'd and closed (sometimes less) because of the reason just mentioned or a lack of Buyers to dispo to. 

You mentioned W-2 income as part of a way to save on taxes. 

Not to mention how these properties don't appreciate the same as a regular home. what are your thoughts? 

That's about what mine cost to set a living trust with the documents you mentioned.

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.

I don't know that @Dave Foster earlier mention worked...I'll let him chime in as the expert, but you can 1031 for less it just results in 'boot' which is taxable.

I agree with everything mentioned by Carlos.  

To expand a little on what is mentioned the underwriter's guideline, a DIL does not extinguish subsequent liens, so if the borrower has judgments against him/her/it that attach to the property, the DIL grantee takes title subject to them and may have difficulty getting them released later without payment. 

While they did mention they aren't responsible for utility lines aren't they suppose to stop digging and call the "call before you dig number" if they find a wire. 

The plumber noted that despite the faucet being left on, there had to be a blockage to cause water to significantly overflow as it did, which is what should be reported to the insurance company.But, as I mentioned in the intro, there are a few issues here.