@Jaswinder Paul - This is all town specific.

For specifics, I can check with my CPA and RE lawyer, but they aren't experienced Property Managers. :-)Anyone else use a PM company to handle all of their rentals set up this way?

I would recommend you head to local meetups to get to know folks who are in the specific area of Chicago or the burbs where you want to invest.

More specifically, do you know what investment strategy you want to implement?

There is really no IRS private letter ruling specific to DST (or at least it is never mentioned as such) as far as I can tell, despite some advertising to the contrary.

I became a realtor specifically to help other investors in the area here :) The property is LTR - Myrtle Beach is growing so fast that it has LTR opportunities.

The three most used “exemptions” are (1) the general exemption for private funding (2) Safe harbor Regulation D (either 504, 505, or 506 B or C),and (3) crowdfunding specific regulations.  

As already mentioned it definitely depends the specific scenario! 

Specifically:- Are there any exceptions or tax treaties that could eliminate or reduce my US tax burden on foreign rental income that is otherwise taxed locally?

Registre Foncier du Québec This will tell you about anything that has happened to a property Sale, Transmission, Lean, 60 day notice, Expropriation, sub dividing land....Very had to find specific deals in here, you’d need to be lucky to find a 60 day notice, you have to search every address and fall upon it2.