Owner and now renter tax questions.

[Jose Matuk]

Hey everyone, I have a question that might be logical but I still want to touch base with the experts here.  I purchased a home a little over 1.5 yrs ago. Now I have to move and it doesn't make sense to sell that home, so I will try to rent it.

I have to move to Dallas and like I asked in another post, I will try to make this my jump into REI, however I've been looking and I haven't found anything immediate that I could live on for a few months and then flip, besides the fact that my next loan will take some time (until I manage to rent the main house).

My question is, my home is giving me a tax break because of property taxes and a small portion that I use to work from home. Now that I will be renting it out, and renting a place for myself somewhere else, how will the taxes play out, will I lose all the tax incentives from the mortgage? Can I still deduct the "work from home" portion of my rental and the mortgage taxes from my (now hopefully rented) home?

Hope this makes sense...

Thanks