High earner looking to off set tax bill with real estate

[Erica C.]

Hi! My husband and I are high earners from our day jobs this year and will have a very high tax bill.  I am wondering if buying a property and renting it will help to offset or federal income tax that we will owe at the end of the year ($50,000 or 33 % according to the 2016 brackets).  I am not looking to have positive cash flow (as to add to my tax burden), but just an investment and something where I could write off expenses.  Is anyone here in this type off situation?  Not looking to make $ but just have an investment tax shelter?

Can you deduct your mortgage interest even if it's not your primary residence?

Can you deduct insurance as a business expense?

Has anyone been successful deducting maintenance costs?

Can I deduct a property managers fee if I choose to use one?

Thank you in advance for your help!!

Erica