What is the tax treatment with respect to reporting, depreciaiton, etc.

Also if someone pays taxs through Captiol Gains would one have to pay income tax on said amount of profits?

Income tax: A foreign investor receiving rental income from U.S. real property must pay income tax.

Should I still house hack to avoid the capital gains taxes?

It may impact the loan and will require you to pay transfer taxes based on the assessed value, deed prep and some additional accounting fees to address basis.

Then I realized that if I don't have enough cash to invest in a property for 2024 tax year, then I am better off waiting until then because another cost seg will lower my tax burden within a reduced tax bracket for 2023. 

security, fencing, a guard dog inside or someone stays there at night $1500carry cost of your loan/tax/insurance$?

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Even if you are actively operating as an STR the lender will look to tax returns for income, so if it has been less than a year they will still go on LTR income.You need to factor in that your lender is going to underwrite any loan based on LTR income only. 

Please keep in mind for tax purposes LLC are passthrough by default.