You are not entitled to business deductions.

Essentially, people could donate money and get tax deductions and then that money could be pooled to buy property, fix it, rent it and pay a manager.I’m assuming it would be similar to a self invested Ira.

It also tells the IRS how much interest you can claim as a deduction.

I'm a little confused about deducting real estate taxes.  

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

Deductions would be the original deposit I had put into the property, material and labor, and all other deductions such as utilities.

Quote from @Michael Smythe: @Thomas Talbert your CPA should be telling you that you need to make yourself a W-2 employee of the company and pay yourself a monthly paycheck.The payroll tax deductions will help avoid a huge end of the year tax bill.Also, too large of a tax bill will piss off the IRS and they may charge you penalties + interest for not making quarterly estimated tax payments.That won't help.Yes, his property management business would get a deduction but he would also have to report the wages as income.

This reduction in debt would add $31,807 to your net worth.Tax benefits:Tax benefits are the deductions you can take on your income for expenses related to owning and operating a rental property.

LES (Leave and Earnings Statement):  This is the military equivalent of a pay stub and provides detailed information about a service members pay, allowances, and deductions.   

You get to deduct the full 481(a) catch up amount in the current year.1.