New Tax Bill Affect Investment / LLC ?

[Jake Gove]

We are in the process of getting ready to close on an investment house we will rent out as a short term rental. I was planning to create an LLC for the investment and use it for all expenses and income related to the rental. I read that the new tax bill affects deductions. Will I no longer be able to deduct expenses for the investment unless they end up being higher than the 24k standard deduction for a married couple or will I be able to take the 24k deduction for ourselves and still deduct investment expenses because of the LLC?