Losses on rental property

[James York]

I’m getting in to my first rentals, but want to make sure I don’t do things improperly. I have w2 income and 1099 income. If I have losses (depreciation etc) on my rentals in excess of the rent, they should be able to offset some of my w2 income. If I do this, will a lender look at it as a true reduction of income or see it for the tax advantage it is and disregard the “loss”?