Is there anything I can do to now, while waiting to close to prepare for legally avoiding as much tax as possible?

And if you don't plan it out right and pay your wage by the end of the year you have other timing issues/problems to deal with as you will be taxed in the C-Corp and the following year you will create a NOL in the c-corp....I can't advise on the legal side of things but for tax a C-Corp isn't the best approach. 

Even long term capital gain rates have reduced, many chose to pay the tax as properties are getting too expensive or price is at apex of the cycle.

Unlike passive rental income, the income from an active trade or business is subject to self employment tax (a nasty 15% tax commonly referred to a "social security and medicare" by working folks).

Probably makes you responsible for self-employment tax as stated. 1.

@Paul Coleman I invest actively and passively in real estate and all of that depreciation helps me pay very little in tax as a real estate agent.

Flipping houses is consider a business to the IRS and you are taxed as ordinary income subject to self employment tax. A

Do I just apply the tax as percentage of market to the tax value listed?

@Roy MarksYou have to be mindful that if your parents sell Property A that they may have to pay tax as a result of the sale.

As long as you hold that property you'll never pay the tax.  As