Tax deductions that don't affect buying power

[Moses Lin]

Hello! Tax question from a new real estate investor. Right now, I have a side business making 100k/year and two rental properties I bought this year that cash flow about $800/month. If I deduct all my actual expenses, I'd probably pay little to no taxes, but then I wouldn't be able to qualify for a loan next year.

I know that depreciation for my business equipment and my properties are added back in to my income amount when I apply for a mortgage. Is there other real estate deductions that are also not counted against my income? Like renovation costs?

My question is, how can i maximize my buying power while minimizing my tax bill?