Although these items are eligible for tax deductions, I overlooked this aspect when filing my taxes last year.Now that it's 2024, I'm wondering if it's possible to file an amended return to potentially recoup some money from the IRS.

I'm concerned about losing the QBI deduction because then the "management company" would be the one active in managing the business. 

Property taxes are 1% of assessed value for residential, and 2% for rentals, plus all the deductions fall off.

You can use a co-borrower just make sure they have good credit and a (2) year work history of W2 income.Try and avoid self employed co-borrowers because their tax returns typically do not show income and are full of deductions.

But I'm not that confident yet The loss is limited to $25000 only if you are adjusted gross income is $100,000 or less.And yes, as long as you are not benefiting from these deductions then you don't have to worry about the depreciation recapture rules when you sell or exchange in the future.

Do note that only the mortgage interest that you pay is deductible, not the principal payments, but you'd also be able to take depreciation and possibly other expenses on the property such as utilities or maintenance.

If you live far away and use a property manager, deduct 20% from that. 

That is, can the owner deduct $37,500 (750000/800000 * 40000) or $33,750 (750000/1000000 * 45000)?

However it can depend on a lot of things like your deductible, your credit, coverage.   

There's not really enough information to give a good answer, but I can suggest, reduce your coverage, increase your deductible, and have your tenants get their own renter's insurance.Maybe not "top" tips ...