What are the tax benefits available for an OOS investor?

[Ali Mirabzadeh]

Hello BP Community,

I'm Ali from California. I'm planning on purchasing my first duplex in KC in early 2023. I have started planning/researching on how I can get tax benefits and/or save more money once I purchase my first property and start getting rental income and buy more properties down the road in a couple years.

I have been reading online and BP posts but a bit lost. I'd like to know in what ways I could benefit from tax advantages as an investor in California owning propert(ies) out of state. 

I'd like to suit myself for success and would like to learn more about the tax benefits available for me. 

Also, I'd appreciate if you can share your thoughts, network(CPA and tax attorneys), books/article that can help me learn more about it.

I'm single and in the high income tax bracket so would like to save more money on my rental income, later selling the properties, and take advantage of tax deduction available to me.  

Happy Investing!