Domicile: WA State (income tax free)Property location (Texas): (income tax free)LT gains + Depreciation recapture ~ $300k on a $500k income property ~effective / average tax rate = 12% for past umpteen yrs (relatively low income, avoiding IRMAA and doing Roth rolls (no 'realized' income, just transferring from tIRA to Roth = vast majority of annual MAGI income)In the end (coming soon, ~17 yrs) ALL remaining estate will go to charities / Charitable Foundation / DAF.

If so, would this still cause issue with the S-Corp tax rules?

The slightly confusing part is the Business License Tax Certificate.

And it takes very little effort to gather since you have to do it anyway to prepare taxes. 

Crunching rough numbers you need a significant percentage of depreciation in that first year to offset not only your tax liability but also the income of the property. 

Can anyone recommend a great accountant they've worked with who also has experience with US Expats living abroad filing their taxes back in the US?  

This involves discussing legal and tax implications with professionals like a real estate attorney and tax advisor to find the best structure for your situation.

People should recognize things never get cheaper (which is why now everyone should roth 401k that savings because I would rather pay taxes on it now than in 30-40 years)... 

I may want to do a cost segregation study and look into tax benefits.

Liability claims typically arise as a result of property damage, human injury, or human death.