I'm a tax associate for a large public accounting firm and my focus is on corporate taxation for financial statement audits (think 10-K, 10-Q and company carve-outs).

Tim,I recommend finding an accountant that specializes in real estate taxation over one that is local.

The double taxation was going to be phased-out as part of a pre-pandemic election promise (the tax also hurts NB folks that want to own vacation property in province), but that's off the table for the time being.

But both states will be So it will be paid within the structures of the state your file in as well as your federal return, and your state return, and the state where the property was located (if different and is there is a state tax at that level). 

Again - trying to think about a 20 year plan...ROBS/C-Corp - double taxation, no step up basis, model relies on moderate future tax rates, cost of capital and 1031 BUT - the C Corp CAN obtain financing - should I just buy a property a year, cash out REFI, 1031, plan on only pulling cash out when we need it?

Not familiar with how taxation works in Kansas...

I would like to elect S Corp taxation for this LLC.  

@Greg ScottYour numbers on UDFI taxation on debt-financed real estate are WAAAAY off, as are other statements you have made above. 

@Kody ChristensenThis is best answered by your attorney as it relates to entity structure and a cpa for taxation purposes

@Tyler Sample.Just remember electing S-Corp taxation, its not an entity, tags along additional administrative costs.