For updating Abstracts, Iowa Title, People's Abstract and American Abstract are the big ones. 

As-Is your gain = (Sale price- closing costs) - (original purchase price + renovations+closing costs- Accumulated depreciation) And that will be taxed as capital gains (rates vary depending on your bracket) And the amount of that gain = the accumulated depreciation will be taxed at your ordinary tax rate up to 25%

I am curious as to wether this is just an american thing or does it also work in the United Kingdom?

I an American living abroad looking to invest into real estate. 

This doesn't change any thing on that side.Your CPA gave you bad advice- the LLC isn't allowing your passive losses to reduce your ordinary income so it didn't change this circumstance. 

We can disagree, but I'll have Chase or American Express make up their own mind.

Talk to a community bank or a credit union. if your using a similar strategy per 1/2 above why not rent the units then sell 1/2/3 years later for capital gain which can be quite a bit lower than ordinary income tax.Best wishes on your new endeavorChris

The original plan was to move and purchase our own single family home to live in like good ol' working class Americans lapping up that W2 money. 

You can easily get 200,000 miles or more per year through ordinary spending.You need two accounts: checking and savings.

Be carful the American market and Canada have major differences.