The plan since initial purchase back in Feb of 2020 was to live in the house and do as much DIY'ing as possible to increase the value.

If the neighborhood is as bad as the purchase price suggests, you need to also include a realistic initial Renovation cost, and even more importantly, a monthly allowance for Maintenance and Cap Ex (say, 10% for each, and the same for Property Management).What's that? 

He advised we start a trust and also put my 3 rental properties into a LLC.I see the pro's that he mentions but any con's that I just dont see other than this initial hassle of setting it up?

Hello,
I currently live in Canada (Canadian residence) and have 100K USD in cash.
I wanted to start looking for a house in the US, I thought of Buffalo NY since it's not far away from me.
I know I should open a US ...

They told me about it a month ago and I have no clue if it was there when they got the unit or after, it never showed up on my initial inspection to buy the property.

Yes, I've already had a few interactions already; a lot more than I initially expected. 

First some questions and clarifications:1 - You mentioned the cost to buy and the current PV, which nets out an initial equity position of around $70k. 

Since you have no money in the deal, I'd suggest offering your LP investor this:LP Investor receives all their money back first, before GP gets paidAfter initial return of capital, LP gets 8% annual return before GP gets paidAfter 8% return (can change depending on the deal...), the profits are split 50/50 between you and the LP.After 12% return, GP keeps 75% profits, LP keeps 25%.

Pet fee remains during initial 1 year lease. 

Last time it was a non-performing loan in Texas where it exceeded UPB because they indicated the legal balance was so high and the initial filing had been done.