Hi, if my wife becomes a real estate agent in New York (we live in NY) and we buy properties in other states such as Florida or Georgia, can we use segregated deductions on houses we buy outside of New York in order to pay less income taxes from my earnings?

There is a fairly new 20% pass through deduction you may qualify for that could help you, but not everyone qualifies.

So my question is:Can I use this loan money to build and buy property in Mexico and still be able to deduct it 100%?

*The taxpayer or RPE attaches a statement to the return filed for the tax year(s) the safe harbor is relied upon.If I don't meet all the 4 bullet points for Safe Harbor am I still able to take the Qualified Business Income Deduction for a profitable Rental Property?

You can make a lot more on $2M than the $138k revenue less deductions. 

What you do with your money is your business, except the IRS wants its percentage of the profit (well, less any other deductions that apply).Don't forget that investment properties have to take depreciation. 

.$78k in passive losses”—those repair costs aren’t currently deductible, get added to the basis.

You could buy 10 rental OOS but income for those properties are peanuts compare to one succesful BRRR project in CA, but at least it's good for PAL deductions :)

Quote from @Glenn Levy: Hi Marlene. 

First - no, cannot deduct "value of points."