Help! Tax implications for Canadian resident inheriting US RE

[John Humphries]

Looking for some legal/accounting advice - I'm a US Citizen/Canadian permanent resident living in Canada. My mother in NC recently passed away leaving me a house in NC (fully paid off) and other investments in stocks and mutual funds as well as vehicle, furniture, etc. I'm still in early stages of sorting it all out but was hoping to get ahead by getting some early advice from those with knowledge on this particular topic.

Basically wondering if there is any advantage in any particular strategy over any other? Would selling the house create a large tax burden? Alternatively, is there an advantage (tax-wise) in holding on to it as a rental for any period of time?  It would be a decent rental although the money could be better invested elsewhere for higher return.

Any other advice or pitfalls to avoid would be greatly appreciated. I file taxes in both the US and Canada each year but up to this point, have never had to pay anything in the US as I have been under the exclusion every year.