Double taxation. 

This way you have an LLC with the taxation of an S corp.NOLO Press has very good website and books on entities and how to run and form them.

You will be taxed at your marginal tax rate.Best bet: Consult your CPA and try to not do you taxes yourself.It actually is "capital gains"; however, it is tax at  ST Capital Gain Rates  which equals your marginal tax rate.

I really do enjoy accounting, especially taxation, due to my prior internships.

Property held for less than a year pays tax at the ordinary income rate.   

Not really matter, but to protect your assets and lower taxation better to open LLC in state where property located.

I'm trying to learn the smart way to grow my company rapidly, and avoid unnecessary taxation along the way.

Where double taxation does happen is if you use an LLC and personal tax rates in the US.

@Seth Lacey I prefer the Southeast or Southwest as I think most sane people are moving away from bad weather, too much regulation, and too much taxation.

But have done a good deal of asset protection work for the last 23 years because taxation, asset protection, and especially entities go hand-in-hand.I think getting out of state series LLC’s in AZ will provide you little benefit.