The interest would be tax deductible due to interest tracing rules. 

So I would have 23k stuck in the deal and would be losing close to $700/m before I deduct any expenses.

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

Is my accountant accurate in stating I cannot deduct the expenses related to the property if it's not listed in an LLC?

Rental income is subject to tax, but it is also possible to deduct many costs related to owning and maintaining rental property, including property management fees, repairs, and mortgage interest payments.Additionally, for those investors holding properties in Germany for the long-term, the country's capital gains tax law is attractive.

Over time, as property values increase, your wealth grows.Tax Benefits: Rental properties offer tax advantages such as depreciation and mortgage interest deductions, which can help reduce your overall tax liability.Scalability: Once you’ve mastered the BRRRR method, it becomes easier to replicate.

If you're left with $107k across all 3 units after ALL expenses are deducted (some people don't include PITI when they discuss NOI) then I'd say it's darn good.

A HELOC on your duplex or home offers flexible, low-interest financing ideal for BRRRR, with potential tax-deductible interest if used for property expenses.

Proper documentation ensures you’re prepared to substantiate your claims.Federal REP or STR material participation allows you to deduct rental losses against active income, significantly reducing your tax liability.

@Vidit Maini Starting your business as an LLC taxed as a C corporation offers flexibility but involves double taxation unless you elect S corp status, allowing profits to pass through to your personal return.For tax savings, deduct startup costs, track business mileage or vehicle expenses, and consider a home office deduction.