Have a few questions regarding STR loophole and ways to save on taxes.I have a W2 and I am on H1b visa.

(Lesson learned - even when we don't think there's any reason to validate proof of funds - and we initially didn't with this one - we will moving forward)Worse, the buyer's fiancee is a childhood friend of my daughter / business partner.  

I am currently living in Seattle with my fiancee but we tentatively plan to move to the Midwest in 2-4 years.That being said, we are interested in investing our money and want to get into real estate for the long haul(probably brrrr).

Easier buyer market is very important for a beginner buyer like me, though I realize that US is much more difficult option personaly (employment uncertentainty; obtaining work visa; getting mortgage while Canadian credit score is not accepted and having no US credit score yet; at-will employement; healh care; moving car and property across continent…and many more).After reading all comments, buying a house and renting out a part of it seems to be the best first step for a novice.

I am myself an aspiring immigrant on visa status currently and don't want to jeopardize my chances of permanent residency by breaking any rules/regulations/laws.

I was working at 3 Joe (painter during a day, dishwasher in the evening and janitor at Target and night) :) plus I was on student visa and didn't have a green card.So, we met at the wedding on August 17th 2001, I proposed on September 17th, and we got married on October 27th 2001.

My visa bills (personal & corporate) every month are more than that.

What may work for one person may not work for another and visa versa. 

You now have exactly the same rights and obligations vis-a-vis that property as the previous owner.BTW, in CA, again, when the HOA forecloses non-judicially for accumulated HOA dues, etc., does IT become the title-holder of record until further notice, auction, sale, etc?

If they are principals then they are in an adversarial role vis a vis the seller (legal definition).