Keeping the Vancouver property could provide strong rental income, long-term appreciation, and diversification, but it also comes with tax implications, foreign ownership rules, and management challenges.

You will realize the loss for tax purposes when you sell the security, which it sounds like will happen in 2025.

5 Tax Mitigation Strategies Every Real Estate Investor Should KnowAs a real estate investor, every dollar you save in taxes is another dollar you can reinvest into growing your portfolio.

Buying at the mortgage balance (~$150K) positions is under the fair market value and can trigger gift tax rules.

There might be some confusion around the 60-day rollover rule which allows you to move money from one IRA/401k to another (both pre-tax and Roth).

This allows you to report the rental income and expenses directly on Schedule E of your joint tax return, simplifying your tax filing process.

@Drake BackmanBigger Pockets is a great place to find a tax strategist specializing in real estate taxation.A good real estate tax strategist can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding a tax  strategist specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your tax strategist remotely to expand your options.I would also recommend looking for a tax strategist willing to work with you throughout the year.

If I do, I need to sell it by July 2026 in order to not have cap gains. We lived in two of the last five years up until July 2026.
I haven't been like I should watching the market like I should. I want to have more re...

The Annual Owner Statement should break down all the expenses that the owner's tax professional then figures out how to deduct and on what tax schedule.So that way the owner can expense everything throughout the year?   

Prices will certainly vary between different tax firms.