So the suggestion of not recording the conveyance of the real property can undermine the counties collection of taxes on the sale and taxes on the instrument not to mention any increase property taxation that would occur.

Most of it is universally applicable, though there are areas where investing in Canada (if that is your plan) will be different: regulatory, financing, taxation, etc.

The depreciation is still taxable even if your profit due to appreciation is excluded from capital gains taxation.

The deal points generally don't hinge on abstruse IRC regulations on taxation.

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@Bill Gulley - I specifically dont want an LLC because of the pass-through taxation.

Go to State Department of Assessments and Taxation, Charter Division, 301 W.

In fairness, this would apply to paper as well.5) If you die, your heirs would enjoy no step-up in basis from income property in an IRA and pay tax at their ordinary income rate when they sell.

You would be able to deduct some of your operating expenses against your other income {though I would propose if a property is generating more operating expenses than revenue, you have the wrong property} and, if your are in a lower taxation bracket than the top corporate tax rate, you would pay less taxes in your own hands.However, if you have a good income from your "day job" and are already in an upper tax bracket, there is less advantage to personally hold the properties and more advantages to holding them in a corporation (income splitting, separation of liability, etc).  

Also be sure you understand UDFI (unrelated debt financed income tax) and the taxation structure your IRA will be subject to due to utilizing leverage on a tax advantaged account.