Trump Tax Reform Clarification

[Lance Knapp]

Hi, I'm am curious if anyone can help clear up the proposed tax reforms that would affect real estate. 1) would interest no longer be a deductible expense for investment properties...? 2) would there be no 10-31 exchanges, but instead you depreciate your new building purchase upon purchase (so it can write off your investment gain from your sold property)? Does this mean we would no longer be able to write off depreciation over roughly 30 years against rental income?? 

I look forward to insights on this. Thank you!