With respect to purchasing property through your Canadian corporation certainly you can do so, but any income earned by the US property would be subject to US branch profits tax in addition to the FIRPTA requirements Chad mentioned previously.

The bank is asking $92,000 but if I can get it for $75,000 or less it would be a profitable deal.

Many investors report just the $20k profit.

After moving around a lot, we now live in the Enterprise/Dothan AL area.

We performed very well for them, but as I stated previously they have experience with us in the first lien position.To make up for the increased risk, I had also considered adding points, increasing the interest or even cutting them in on a small percentage of the profits in addition to any interest.I just want to do right by them as they have already told us they are in for more deals, but I was thinking that we couldn't be the first ones to ever be in this situation and was wondering if there was anything that was sort of the standard.We can provide the cash ourselves, and maybe we should, but I have the cost of funds figured into the deal and we still come out incredibly well on margin, so the preference is just to pay for the use of someone else's money.

Land lording ( as long as your not a slumlord) is not a high risk of lawsuit enterprise.. if it was  insurance rates would be through the roof.. 

My suggestion to sell in this market because you might at the peak of the cycle and it may be more profit than you thought when you purchased it. 

So I satisfy the “2 out of 5 years” rule that allows the home sales profit from capital gains tax exclusion.I was wondering what documents do I need to submit when filing taxes for 2018.My tax person says that no documents need to be submitted to prove that, and me just claiming It is enough.Looking for second opinion.Thanks,Animesh

However, if things move faster, and he is out and we sell during 2018, do I try to separate out the income/expenses/depreciation from when it was a rental, adjust the basis, and then figure the sales profit off the adjusted basis? 

Profits after expenses are split according to who puts in what percentage.