You need to register with the state and county taxation departments and remit taxes, that is all!

Its sort of a grey area to see if the consideration as a purchase stems from the method of taxation or whether if title is held in a S corporation or a LLC.Most of these unique scenarios are different takes and if you ask one company or another you will get mixed answers because its in the gray area between the lines within the guide books.

(Ie defer the balance until a future date for taxation).I am in Indiana and our LLC is an Illinois Series capable one.

Your taxable income is the portion that is subject to taxation, so by lowering your taxable income, you pay less in taxes.Credits, as we will discuss next, reduce the amount of tax that is owed dollar for dollar whereas deductions lower your taxable income.

How does the taxation work? 

And not just a generalized CPA, but one that specifically specializes in real estate taxation.

They do not appear to specialize in real estate taxation, their prices are high, and they have had numerous complaints filed.

This plan is not subject to UDFI taxation on leveraged real estate investments.  

However, by changing investment income to ordinary income, on would now owe social security and Medicare tax, at the combined rate of 15.3% (both sides), less deduction from income of one half of the tax, so effective rate of 12 - 13 %.  

If one decides to reside in one of the units for 2 years prior to selling will the $500k exclusion take place and gains taxation would only be imposed on a selling price of $600k or higher?