Beginner How does one make money with property taxes

[Matt Butler]

Lets assume I acquire the house 100K to keep it simple and its a 20% down payment the rest is leveraged. Lets say my mortgage is $800 and I charge my tenant $1500 a month. Taxes in Illinois are 2.8% or so so thats roughly $233 a month. 1500-800-233 is only a positivr cash flow of $467. Am I missing something? Can a portion of property tax be written off on my end or would depreciation be able to zero some of that out? Can someone explain how this works and if this assuming all other factors constant, is a good monthly cash flow income ?