I have one rental property that is under my personal name. I'd like to buy a second and put it under a LLC. My question is, since I've never ran a business under a company name, how do the taxes work? Will my LLC pay ...

Purchasing this asset in a self-directed IRA or 401k could allow you to shelter the income from taxation and you could avoid the UBIT tax on a "flip" by holding the property as a rental before selling and realizing the appreciation.

Therefore, you do not have to worry about double-taxation from the states.

A entity isn't a license to cheat on your taxes.Disadvantages - Double taxation. 

The involved capital would be quite high, considered the city, and so the related risks.Closing costs in Italy are around 15% and you need to understand the taxation system.

Robert, is there any kind of transfer tax, at a % rate for sales there?

As far as taxation and regulation, the state will generally decide in favor of "the people" and against "the corporation".Let me know if I can help and if you want to connect!

Effectively, you've only paid the tax once due to the other state tax credit, but you're always going to pay that state tax at the highest rate between the two states.

(The house is in the name of all 4 of us, me, my brother, and our wives; I’m not sure what complication that adds).Point is I thought we have some protection against taxation on the profit of a sale.

Right now we're running 1 trillion deficit per year, even after the recent taxation (of everyone, by the way).