The icing on the cake would be to cross collaterlize their note to another property (can do this as many times as you want) and they won't ever pay the taxes.

It was a piece of cake , nothing worth paying somebody to do .

You are asking if you can have your cake and eat it to.

.: Piece of cake.

Think of the lowering of rates, if they happen in the timeframe you want, as icing, not the cake.

For rentals 3/2's will go like hot cake but anything larger or much larger you will need to just wait.

I think people look at real estate the wrong way and want the loss to offset their W-2 income.The first and most benefit goal with real estate is that your cash flow and appreciation is not taxed.if you are making 8% from cash-flow and appreciation and it is not taxed, imagine how quickly your wealth can grow.If you can offset the rental loss with your income income, that is just icing on the cake.

The rest was cake.

Not saying what comes after is a piece of cake but it isn't as difficult. 

No more, please no more.....I feel sick like when you have eaten too much chocolate cake....