Reasons to do Rentals and Calculating Tax benefits of a rental?

[Michael Garcen]

I just bought my first home property last year, so i'm very new to the real estate world. I've done some hard money loans which have been great and yield around 8-10% interest. I've been toying with the idea of getting into rentals as some more supplemental income, and although I've struggled with the math as far as justification, i believe the main reasons folks here by rentals (please correct if I'm wrong) are: 

• Cashflow (although I've seen people do deals eg on Roofstock for only $100-200/mo) + appreciation (when sold) + taxes

So assuming I'm correct there, then the potential tax benefits are 30% of the reason to do rentals. Then my question is, does anyone know of a calculator or spreadsheet which helps you quantify how much for a particular rental you will save on taxes? Eg., if you're in the 28% tax bracket, the property taxes on 100k property, depreciation value, etc then you would have XXXX additional deduction for potential $$$$ savings on your taxes.

I googled, and searched the forums and looked the BP calculators and as far as I could tell i could not find one. Thanks in advance!