When I live closer, I will shield my identity a little bit more, but just enough that someone would have to work a bit to find out where I lived.I use google voice.

We have a local club that I organized: http://www.meetup.com/Israeli-Real-Estate-Investment-Club/ Join the club and feel free to send me a PM if you have any questions.

I do however want to get rents up to market value.I am in an area that enjoys a low cost of living and the rent roll ranges from 500 to 700 a month on nearly identical units features and square footage wise.

You have to look at total taxes as a percent of GDP when evaluating tax rates because different countries have different systems of taxes.Japan has rates almost identical to the US.

.- Every unit is nearly identical- all 2/1. 2 units per floor, 2700 sq.ft. per floor.- Each unit has nice original hardwood in good condition that can be refinished.- Paint is peeling of the walls and a lot of plaster is broken.

I could show you a million examples of how you could rent similar if not almost identical property for less.

Then every month when the automated water bill is generated and sent to each tenant it is identical to the pricing structure you city charges.

You can have three identical buildings and even tho their v/c are the same and their expenses are the same they can have drastically different NOI's depending on when their leases were signed. 

If true, this structure would 1) provide a very similar if not identical tax obligation on operating income and 2) remove double-tax on capital gain (seeing as the C-Corp never actually owns the deed of the property)? 

Coincidentally, mom bought it for $80K in around 2006, and currently on the market for about $300K, almost identical situation to yours.