Canadian corporation buying property in the US

[Ilan]

I have a company that is incorporated in Ontario, and I would like to purchase a property in the United States that will be owned by the company.

What is the most suitable way to buy a property in the United States by a corporation? Should the company setup a subsidiary real estate holding company in the United States? If so what is the most appropriate corporation type to be used for this purpose? I assume that a C corporation might be needed, but can an LLC be used?

If the property is bought directly by an Ontario incorporated company without setting up a US holding company, are there going to be any draw backs either while owning the property or when disposing of it? What are the implications of foreign ownership when it comes to tax being withheld when the property is being sold?

The property is intended to be a residential property that will be rented out. Is there a difference in the way such an investment is treated depending on whether the property is designated as a commercial property or a residential property?

Thanks