I imagine the whole process is simpler but can anyone tell me how different it is when you don't borrow the rehab costs?

I get that labor costs (along with everything else!)

If you sell the property, a lot of the $107K cost will be eaten up in transaction cost.

Some serious baked in costs for each. 

What happens if you buy the SFH and hate renting it by the room but the cost to maintain is too much by yourself.

@Loren Souers I'd have to run the specific scenarios with the rates and fees, but if you're OK with paying the higher closing costs, the Mortgage 1 deal looks good, particularly if you focus on CoC returns.

Just factor the cost into the rent.

Of course there is also market opportunity cost to consider.

This could be less costly and smaller hurdles than you would have with hard money lenders.

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.