You can check the NJ tax info here: https://wwwnet1.state.nj.us/Treasury/Taxation/TYTR...- Is this property close enough to the school to attract other students?

You should be paying sales tax at the point of purchase for all materials on your rehabs...if you're pulling permits to do the work, most jurisdictions will ask you to put up a use tax bond for the work.  

One example given is that outside of your SDIRA - if you sell a property , it is immediately subjected to taxation to the tune of 20% or so - that means you only have 80% of that money available to invest into another property - of course you can do a 1031 exchange to defer the taxes - but doing a 1031 exchange is not always that easy - there are certain restrictions and time limits that you have to adhere to or you wont be able do it properly - you have to identify your subject property within 45 days and many investors will identify multiple properties so that if they don't get the offer accepted on one - then they have others to fall back on  - if you cant find another property quickly - then you may not be able to 1031 it.

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However, you can legally keep executing 1031s forever, thereby deferring taxation indefinitely.

If you wish to avoid double taxation then a C-Corp is out of the question.If you have already filed as an LLC with the SOS then that is what you'll have to file as for the IRS.But there is hope. 

I believe an LLC creates an issue as a Canadian resident because of a double taxation issue correct?

Would they be similar to mobile homes (vehicle license) or would they be more like a prefab home (regular house taxation). 

My 15 year experience says to buy and hold until the day before you die and then set up an estate to avoid the whole taxation.

If you search the forums here on BP, you will find older posts of mine on how to use variable rate financing and hedge interest rate changes yourself, rather than pay the lender to do it for you through the higher interest of a fixed-rate mortgage.Finally, interest paid on financing a rental property is a business expense and can be deducted from revenues for taxation purposes.