Tax structure considerations for Canadians and US foreigners in general can be quite confusing.

The are always multiple variables such as: are the gift funds involvedProperty typecondition of the propertyIs it ruralTitle seasoningReservesLTVWhat is the estimated DSCR ratioCitizenship status: Foreign National, ITIN, Citizen, Resident, permanent residenceDoes borrower have investor experience or notMortgage payment history called a VOM or proof of timely paymentsGift of equity or not100% gift funds or does borrower have at least 5% down payment and their own reserveshow many acres does the property have?

Here's an overview as well as my understanding of the tax implications.I'll start with the US Tax implications:As a foreign investor, you’ll be subject to U.S. federal income tax on the income generated by your U.S. real estate investments.

Most lenders will have requirements against foreign nationals. 

Check in with @Joseph Chiofalo though..they have a few investors that provide lending on lease holds and/or work with foreign investors nationwide for conventional title.

My international bookings, which usually comes from Booking com, have completely dried up ever since the dollar got real strong against foreign currency. 

Lenders who work with investors who are foreign nationals usually require a significantly higher down payment. 40 - 50%, unless you can find a partner who is US based. 

Aside from the benefits he mentions, @Greg Friedman, you absolutely must be familiar with how foreign income is to be taxed in your destination country.  

Language not easy for anything and perhaps Japanese have some distrust or uneasiness working with foreigners. 

I don't deal with drugs and neither do the many investors and other people I know who live or spend time there, whether locals or foreigners.