repair write offs and taxes

[Troy Forney]

So I just met with my accountant and according to him I made $11,000. in income off 2 properties full year and 1 for 3 months of 2016.  After interest, taxes, insurance and depreciation, I am still showing $6,000.  I put $26,000. into one of these properties, all necessary repairs, but it was stated not all of this can be counted as an expense.  After take out 40% for vacancies and cap ex, I am at $3000. per year per property, before any deductions.  So its just not making sense.  Is my accountant missing something?  Am I trying to over simplify a complicated process?  

Also I have another property I purchased in 2016, put $40,000. into to it and am told I can't deduct anything until I have income coming in from this property.  Can someone verify this?  All I keep hearing is how good real estate is for taxes, but I am not seeing it yet.  can someone straighten me out?