I know it's not too big of a problem in US as you can keep buying houses as long as you can get the downplay cash, but in Canada with the super tight qualification it's very hard to qualify for mortgages now, especially as a full time real estate investor without showing any income on paper with only cash for downpay.

So on paper the value I'd be receiving from them should be equal to the average rent prices, and how would that look like for my taxes?

But once more find yourself a local bank that is a port folio lender (a lender that does not resale their paper to a larger bank of financial agency)  They are your best bet.

@Peter Clapham   Your MLO can ask for one time exception for that huge deduction with  paper trail. 

Who cares(actually Houston has been on a rocket ship up so my guess is he made $10m+ on paper. 

People pay that much for education at a college just for a piece of paper that may or may not get them a job and don't think twice about it.

Factor in taxes and commission when selling it and costs associated with buying a new property.On paper STR look like they are cash cows, but there is a lot of work that goes into them and expenses/time maintaining them. 

I also had another experience where a house was appraised for $89K  the agent wanted me to pay $100K  because it was rented  I told him  that means I would go over $10K in the red as soon as I signed papers  his only reply was it was rented....seriously I asked him if he was serious   ???

You first drop the seeds (first mailer), then you frequently water it (repeated mailers or alternate contact), you provide sunshine (alternate exposure like online targeted ads to your target homes, or an ad in the local paper, etc). 

If not it does not make sense to do the 10-15k syndication legal paper work.