Will rental investments increase my W2 tax return?

[Timothy W Hanson]

Hello Bigger Pockets!

I will be closing on my first investment property next week, it is a 4-plex that will cash flow about $700 per month after all expenses including tax escrow, (etc. even including mowing services). I understand that on paper, when working with a CPA, I will have depreciation (etc.) make it so I'm actually operating at a near loss which correctly will reduce my taxes on that cash flow. 

Here is my question, I currently work a salaried job and make <$100k per year.  Will this job now bring in more money / tax return at the end of the year if a CPA sets up my taxes correctly?

Sorry to sound so fresh to this. Hope someone can provide some insight! Thank you all.