Deductions for an investment with and without LLC?

[Lyn Green]

I am converting my primary residence to an investment property and understand the benefits of putting it in an LLC from an asset protection standpoint. I do already have a large umbrella policy. I'm interested in understanding how investor DEDUCTIONS may be handled differently on my tax return with and without an LLC? I believe I can deduct Mortgage interest, taxes, HOA fees, maintenance etc. plus depreciation, (which I don't have a handle on yet).

My goal is to minimize taxes but more importantly KEEP MY AGI LOW as possible (for non-real estate reasons). Can anyone shed light on how running the numbers through a "business" like an LLC or S-Corp will change my tax return? For example I heard that healthcare might be a deductible expense for a sole proprietor/president of a business. Thanks for any insight!