., mortgage interest, taxes, repairs, depreciation) on Schedule E starting when the property is placed in service.

At least ensure you are getting proper tax advice.C corp and s corp are both US federal tax concepts, not business entities.

Because of the nature of a tax lien, it would be difficult to obtain financing from a commercial lender secured by the tax lien itself.  

State tax regulations are typically able to be researched by any CPA worth his/her salt. 

Any advice on what setup is easiest and most tax advantaged?

Exploring tax delinquency records, probate cases, and foreclosure filings can help you build a pipeline of motivated sellers.- Strategic Partnerships: Building direct relationships with REO asset managers, bankruptcy attorneys, and bank liquidation teams can provide exclusive access to bulk sales before they go public.- Bulk Purchases & Portfolio Acquisitions: Banks and hedge funds often look to unload non-performing assets in bulk.

I would apply the cash flow to pay down the debt and hope to have significant passive income (or equity to put into something else) in 10 years.

After that is done, head over to IRS.gov and apply for your EIN (Tax ID).

The owner is estimating that the Tax Map Key will be available in 10-24 months. 

Hey , yea thinking more on this, having other positions would be a tough sell.My strategy for substitution of collateral is to get better debt terms on an investment I want to buy.Ex.