I was thinking of using @Brandon Turner lease agreement provided with his rental property management book and consulting with a real estate attorney to make sure all the state specific stuff is covered.

I've worked for myself pretty much ever since i left school, i'm now a management consultant and keynote speaker in Western Australia, and for the past couple of decades i've run a fairly successful business.

It is always best to consult with a local attorney about the lending laws in your State since these laws vary greatly between the States.

I've consulted with an expert on this and learned that this was just an idiotic move on the property manager's part since the tenant was approved for more than enough to cover the full market rent of $1,400.

While the capital gains taxes would be the same, the property taxes that you have to pay every year are much lower in Mexico and are actually close to 0.Again, consult with your tax advisor if you want certainty and wants to know how this all applies to your specific situation.

Based on our research and consulting with our RE attorney, I will attempt to sum it up. 

A side note is that my day job as an engineering consultant for arbitration/litigation disputes puts my legal risk tolerance higher than most, but I'm trying to avoid litigation unless it makes sense.

Like other entities, you need to consult with a CPA or an attorney.The main purpose of a revocable living trust is to avoid probate.

Also, with your mom transferring assets to you and your brother while alive, make your you consult an accountant regarding taxes on the transferred assets.P.S.

Or, perhaps you could start a consulting company with whatever skills you have expertise in.