The roofer gets up on the roof and finds wind damage , and then the homeowner files a claim and the insurance company pays for a new roof less the deductable .Then after they pay for a new roof , you drop them and get another insurance company . 

From deductions for mortgage interest to depreciation benefits, there are numerous ways to minimize your tax liability and maximize your returns.

This can result in higher depreciation deductions in the earlier years of ownership, providing tax savings.Tax Situation: Consider your tax bracket and the impact of increased depreciation deductions on your tax liability.

Let’s dive into it.Potential consequences of working with an unqualified firm:Missed opportunities: Firms that are inexperienced may overlook numerous components that are eligible to be reclassified as they lack the knowledge or don’t perform a thorough analysis.This reduces the amount of potential deductions which also reduces your potential tax savings!

Staying at your rental properties may not be so great for tax purposes.You would need to pro-rate some of the costs from deductible to non-deductible.Furthermore, if you stay in the propery for more than 2 weeks, you limit your losses.

The retirement account offers no write offs or deductions. 

Bonus depreciation allows for the immediate expensing of a substantial portion of qualifying property placed in service, including improvements to the property, while increased Section 179 expensing limits enable accelerated deductions for certain tangible property used in the rental business.Hope that helps! 

STR and LTR losses have unrelated requirements to be deductible against W2.

So that generally doesn't apply to a partnership where you're a limited partner and you're just passively investing in the deal.So then the only way you can have real estate losses on a K-1 as a limited partner that you can deduct from your W-2 income is if you qualify for real estate professional status (REPS), as some of the other comments mentioned. 

Explore Exemptions and Deductions: Take advantage of any available exemptions and deductions for which you qualify to lower your property tax bill.3.