Tax questions about my first rental property purchase

[Nick Farrell]

I'm looking to buy my first rental property in 9 months. I'm curious how this will affect how I'm taxed? We all know a huge benefit of real estate is tax breaks. But I'm no real estate mogul, I manage a restaurant. I'm looking to buy a house, live in one room, rent out two rooms. Will I pay less in taxes while having the rental property? Looking for all the details, thanks