New GOP Tax implications on Investment properties

[John P.]

I am in the process of closing on a Multifamily, 3 Unit residential unit in Chicago. The Bank is underwriting this as an investment property and the deed will be dropped into an LLC.

Does anyone have clarity on how the new GOP Tax plan (if passed) will impact the accounting and the deferred FCF?  

I.E. can we still deduct the mortgage interest if this is a property that is for investment purposes and is not being lived in as a primary/secondary home?