Eventually a person working for the state was able to send in a correction form to the IRS to fix that problem...but it took a lot of effort on my part to work through the system to see who and how the monthly board payments could be changed from salary which is taxable to board which is not.The other time some folks that I never met, have no idea who they are, or anything about them, used my SSN as theirs for work they did at several chicken processing plants. 

I doubt you want to add to your taxable income so I'd be looking for additional purchases or investments.

My question is about the taxable portion of the rental income, specifically, money that is set aside for repairs, vacancy and capX.

My natural progression for investment vehicles (excluding real estate) is: Match/Roth/Tax deferred/ Taxable.

From a tax perspective, it looks like the advantage of direct purchase is the availability of 1031 options and having much more control over the process, but looks like you really won't have quite as much in taxable losses due to depreciation not being as high.

Although contribution to your S-Corp will not be a taxable, taking out the property, i.e. distribution, from the corp will be taxable event.  

I would cash-flow $810/month, but I would have still to pay on top taxes and property management since I am out of state, so the cash flow would be around $500/month.What is interesting about this option are the tax deductions that I can get, as I mentioned above, I am in a high tax bracket and this could help lower my taxable income.First of all, if you read till here... thanks!

It is crucial to make the distinction between your taxable estate and your net worth.

But it's going to be taxable either way - because you touch the money.3.

Including transferring funds from the TradSD to the RothSD, which is a taxable event, but the tax implications are still advantageous (for now).