Buying a 2nd home and renting out

[Seung Won Lee]

Hi BiggerPockets community,
First of all, we are newbies currently living in LA. My wife and I bought our first property (primary) back in June 2020 in LA.
We are now thinking of buying another property as a 2nd home in San Diego, since my job is relocating to SD (while my wife still works in LA).
We are looking for a SFH where I get to use/stay at one of the rooms and thinking of renting out other remaining rooms.
If we start getting rental incomes from the 2nd home, does it automatically make it as an investment property even though I would live there for more than 10% of rented times? Also, if I earn $40,000k/yr as a rental income, will I get any tax benefits on those income for having a 2nd home? Our CPA told us we wouldn't be eligible for any tax deductions from the 2nd home since our W2 salary is too high. Is this true?

Thanks in advance!