This is a capital gains tax free sale of your personal residence ( up to IRS limits ) and not a loan that will affect your DTI ratio.

When you die, your heirs inherit the property at a stepped up tax basis capturing the equity tax free.

I’ve qualified as real estate professional since 2021 and just found a potentially good opportunity to acquire a property in Mexico that would make for either a solid STR and/or eventually our forever home.I’m completely new to acquiring a foreign property- how to finance, what purchase process looks like, how foreign STR is taxed, does real estate professional status matter, etc. 

Thanks for the replies everyone and @Logan Laperriere thats a great idea to keep a couple tenants in the building to lessen the financial burden while doing rehab.

I have received a refund for a transaction that occurred in the previous tax year.Specifically, this transaction occurred in May 2023, but I received the refund for that amount in January 2024.

If you got the permits and they are recorded with the county tax assessor, you can list them on the MLS, Zillow, etc as a five-bed with ADU! 

They formed all of my entities, prepared my trust and handle my taxes for me. 

But property tax rates can be lower if you purchase properties in this area located in Wise County.

Wondering if it's is more tax advantageous to use an S-Corp or a straight LLC for doing my flipping in?

DSCR also does not look at your income i.e. taxes, W-2, paystubs, etc but rather will look at the potential cashflow of the property.