Withholding tax issues can be significantly simplified with an 8288-B filing.
To the OP, one thing to consider is that if you rent it out, and receive rental income, you are then earning income in the US, and thus you become a US taxpayer, and that can have significant implications. To avoid that, I own my US rental properties in a US corp, so the corp is a US taxpayer, not me.
As everyone said, get an accountant, or other professional, that specializes in cross-border tax issues. It is a very complicated field, with perpetually moving parts.
And another thing I would say is that a lot of the information that you hear can be mis-interpreted, mis-applied, or even flat out wrong. There is a lot of bad information out there.
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