We plan to deduct 1/5 of the total ($2444.80) on the Schedule E for each 1-BR unit.

many people don't necessarily have the time or skills to do their books*REI specific tax efficient advice to include business structures, 1031, depreciation, deductions, etc.  

Hey Alan,As a landlord there are tax deduction benefits that you would have. 

For a TX real estate pro, Michael is an obvious choice of tax pro.Prior to pulling the trigger on a Cost Seg study, you should evaluate 2 things:1 - How much net additional deprecation tax deductions a Cost Seg study would provide: Best way to get this is by requesting a free feasibility analysis from a Cost Seg provider.

Tom's philosophy in general is to figure out how to deduct EVERYTHING.

Can I deduct the closing cost in my rental property taxes for 2023.

Asking this after having searched Biggerpockets for an answer.Would you deduct for scrapes and chips on a new concrete driveway?

Then decide on what coverage you want and at what limits/deductible. 

(BTW, I have excellent creditworthiness). 2) Tax confusion: The interest expense might be tax deductible.

The IRS wants to know about any money coming in, but he can also deduct some costs of renting it out.If the time comes to sell the house, whether or not he has to pay capital gains tax depends on how long he ends up living there when he's back.