2nd home and STR income tax

[Tyler Speelman]

Hey BP,

Purchasing a 2nd home with 2nd home mortgage, but using the home as a STR.

1. Can I use depreciation of the home to offset rental income gains?

2.How do I take advantage of tax deductions if purchased as a 2nd home? (Neither my wife or myself qualify to be a real estate professional).

Thanks in advance!