Negative Income but Good deal after write off?

[Nes Canada]

Hi Guys!

Can I please get some help on a deal that I closed on but haven't removed subjects yet. 

Property Value: 184,000

Down-payment: 35% (2.3%@ 25years) =$282.25/mo

Balance Mortgage: (2.49% @ 30 years) = $471.15/mo

Property Tax: $100/mo

Strata: $200/mo

Total Expense : $1053.4/mo

Market Rent = $1000

Loss = -$53.4/mo

Now here's the question, I'm not sure how other cities/states do it but in BC  Strata, Property Tax, Property management, utilities and interest rate on purchase are tax-write offs, so in my thinking

Annual Expense = $12,640

Annual Rent =$12,000

Tax Write off = $3,600 + (Interest rate pro-rate)

Income after write off= $2,952.2

Please let me know if people actually compute it this way or if I make sense at all.

[Samantha Klein]

Never purchase a negative cash flow property just for tax benefits. It's a horrible deal.