From a tax perspective if i am a passive investor how do i stand to gain from deprciation?

I am planning to get into the TN real estate market as my first investment and am looking for some information.In particular: Areas to steer clear of, property management fees, typical cosmetic rehab costs, etc.My strategy is to put large down payments on 2 properties (relative to housing prices) to help pay for my living in NY while still gaining appreciation in a growing real estate market.

Lots of lessons learned and greatly benefitting from this wonderful forum.

The 2 year mark would save you on taxes, if you have a gain within 5 years, but it seems like you're in this for the long haul.Some advice for screening tenants.

What benefits does it have over other lead lists? 

Sounds more like trying to win a popularity contest, aiming to gain votes and likes from people here that also have something against wholesaling.But OK let me play along.Let's fact-check this:OP: "It’ll truly be strange to even hear people and gurus trying to make big money off it."

As you gain experience and tackle even bigger projects, you'll realize that what once seemed like a mammoth deal becomes totally doable.When it's crunch time, there is no room for improvisation.

They can help you with tax planning at the beginning of the year to help ensure you are taking advantage of as many tax benefits / incentives that you can.

If I got a home equity loan for Property 1 and used the proceeds as downpayment for Property 2 and then got a 2nd loan for the remaining 75% purchase price for Property 2, when I sell Property 2, can I use the Property 1 loan as part of the cost basis for computing Property 2 capital gains?

The operator may trade off the longer term benefits to keep a high quality tenant in place.