The new tax law created a so-called 20% deduction on "qualified business income."

Getting a crappy health insurance plan, or underpaying your income taxes, to increase your "net" income on each pay-check isn't actually a pay raise, since when you get sick now your deductible just tripled, and your April income tax bill went up as well!

Evalute the home and deduct any damages.

You separate the holding company for a number of reasons: rental income is taxed at a some of the lowest rates, and the risk of loss is different in character than that of running operations, its tax filing looks different (as a business) than a business that runs operations (deducting capital improvements, etc.), among others. 

My partner and I are looking at one in Houston with the expenses and deductions totaling ~45% of the gross potential rent of the property:That includes 10% for vacancy allowance15% for planned and unplanned maintenance (lawn, CAM, repair allowance)7% for property management12% for Taxes and InsurancePosted deals often excluded expenses, so I want to ask the BP community for wisdom.Questions: To the experienced eye out there, how does those expense %’s look?

It is also tax deductible.

If I buy a rental for buy and hold and I pay all cash, do I need to deduct from my monthly income for vacancy.

I was advised by a real estate agent not to withhold the full amount of rent or pay for them myself and deduct it from the rent.

Examples, I make $110k, rental income is 25k, and I have 30k in deductions. 

You will also use it to deduct most of your business expenses.This standard template may be modified to accomodate some specificities, like states where a series LLC may be less expensive than having a different LLC for each.Also you can add a layer of Land Trust for each property for anonymity and to give some due on sale close protection.A lot of people here will tell you that you don't need any LLC or entity structures and that you can do with only a liability insurance.