Better Understanding Tax Benefits?

[Matthew Gardner]

Hello BP,

I am a prospective investor that has been on the search for an investment multifamily for the past year+. I keep reading that there are many tax benefits to real estate investing but am confused to what they actually are, especially pertaining to rentals. I understand things such as 1031 exchange and writing off depreciation and improvements made, but what other tax advantages does it provide?

I.e. do you pay taxes on all the rental income you collect for the year?

Thanks!