Capital Expense RESERVES as deductible expense

[Costin I.]

In a recent post about how to minimize the taxes on rental income it was mentioned that: 

Setting aside reserves is an expense, so long as they are not excessive. When you draw down the reserve you count it as income but offset it with the expense causing the draw. Best to put the money into a trust account (or escrow account) for that purpose. The loss of control justifies the expensing of the reserve on your taxes.

As a landlord, I do have to set aside a quite substantial reserve amount for capital expenditures, and it would be great if there is a way to have those funds counted as a deductible expense.  Is the above statement true, and what is the correct way to set up such a trust account?