Private Lender for Rental pProperty Investment

[Preeti Sampath]

Hello everyone, 

I have a quick question about buying a rental Investment property with cash. I am intending to buy this property as a cash purchase. Then I will pay monthly interest ONLY (no principal) to my private lender. This lender lives outside the US. Can I still deduct loan interest during taxes to reduce my tax from rental income? Secondly can I deduct depreciation on my rental property even though I am an individual and not a LLC?

Also any recommendations for CPA sepcializing in real estate would be awesome.

Thanks!