Since the loan is still in your name, you can deduct the interest you’re paying to the lenderon your tax return... 

Deductible: This is not a coverage but rather your portion of a claim.

@Jonathan Small For Partner 1 ($72K W-2 income, 2 rentals in an LLC), hiring a CPA is advisable due to the complexities of managing rental property deductions, depreciation schedules, and LLC compliance.

If you're earning primarily W-2 wages, interest, or dividends, those attractive depreciation deductions from your cost segregation study will be suspended.Think about it this way: You might spend $10,000-$15,000 on a cost segregation study, expecting immediate tax savings, only to find those deductions suspended indefinitely.Does this mean cost segregation studies are worthless?

Repairs made while the property is your primary residence are not deductible, but improvements can increase your cost basis, reducing future capital gains tax when you sell.

These tax deductions do not require you to become a real estate professional.

Hope all that makes sense. 2) LLC-B contributes $5875 towards retirement --> tax deduction what type of contribution is this?

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 specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your accountant remotely to expand your options.I would also recommend looking for an accountant willing to work with you throughout the year.

If you have not already purchased this policy, I would look for a policy that provided a stated amount deductible for wind/hail vs. a % deductible.

A 1031 exchange doesn’t apply, but funding through a self-directed IRA can defer taxes, though profits from debt financing may trigger UBIT.To reduce taxes, consider forming an LLC for better expense deductions, offsetting gains with investment losses, or holding the property for 12+ months to qualify for lower long-term capital gains rates.This post does not create a CPA-Client relationship.