Tax deductions for owning investment real estate

[Rich Hupper]

Hello

I am trying to understand taxes on a single family investment. If I have a property where in the first year I have the following cash outflows, what expenses would be tax deductible and what percentage of those expenses would I be able to use to reduce taxes?

Year one assumptions

1) property taxes - 2250.00

2) Insurance - 500.00

3) Maintenance - 500.00

4) P&I - 9580.00

Total - 12830.00

Total 1 year revenue- 12000.00

Tax deductions   ( can maintenance and insurance be added to tax deductions ? )

1) property taxes - 2250.00

2) interest - 8361.00 ( is there a limit to how much interest can bed used a tax deduction, if I had multiple leveraged investments? )

Total deductions - 10611.00

Tax savings? -----

What percentage of the eligible deductions could I use for tax deductions? How is this rate determined?