@Levi T.

Deductible and $200,000.

Rentals that are in my name only, Schedule E deductions are pretty straight forward.

The reasoning presented is to take advantage of the deductions as a business as they would exceed any tax savings as individuals... again not sure?

Now deduct 10% for management fees (even if you manage yourself) and 10% for repairs and improvements each year (since you are rehabbing up front this may be more than you need but better to be safe).

Some think it prudent to push the envelope with the IRS especially with deductions because it is rarely considered fraud.

But you'll want to check, student loan payments are tax deductible and if you pay it off with a different loan you may not get those tax benefits, but maybe it's worth it?

I believe there should also be somewhere around 4 hours per each of those days spent on that business activity (meeting with PM, contractors, tenants, local agents, maybe going to open houses to "check" the market, do work on the rental, etc.)One example I remember was a deductible seminar in a place like Hawaii (let's say New Orleans, in your case.)

Are any of these tax deductible?  

Luckily, I did not opt for the cheap route and appear to have pretty solid coverage (I did go with the higher deductible at $3k).I would love to get some feedback or input from anyone that has dealt with this before.