The factors you mentioned are very important to keep in mind for any investment, but I like investing in areas I know. 

Quote from @Hanna Brown: @Jay Hinrichs  You mentioned Oregon and WA made foreclosure rescue lease backs totally illegal.

I should also mention we shut off the breaker (to the garage) after confirmation from two electricians and our contractor that we had a serious fire risk.   

Not to mention what is your opportunity cost on that? 

For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

@Karen SmithAs jay mentioned private lending has been around forever and it’s really not on the rise - I think it’s always been a large player in the real estate investment space for short term loans.

that is accurate.i skimmed the responses and didn't see anyone mention house hacking. 

The other option I have not seen mentioned yet is finding a corespondent who can originate for you.

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.

Whoops sorry forgot to mention.