Out of state investing tax benefits.

[Jason Frink]

Hi BP Family,

I live in California and am about to start investing out of state. I have a CPA that I've used for years but when I brought up the investment to him he said my wife and I combined make too much money so there will be no tax benefits i.e. write offs, depreciation. The real estate outfit I met with out of state says that they have California investors, and they tell a different story. Combined my wife and I make around $270,000 which sounds like a lot but in the SF Bay area its barely getting by. Any help would be greatly appreciated!