Rental property loss and above MAGI limit

[Andrea Rowell]

Hi, My husband and I are newbies to real estate investing. We purchased two condos out of state in February. We are going to do some upgrading and repairs which will result in a loss this year. Our MAGI is above $150,000. From what I understand, we will not be able to deduct this loss on our taxes. Am I correct? If so, is there anyway around this? Does this also mean that we cannot deduct property management fees, HOA fees, repairs, etc?