If your objective is to reduce your own tax burden, you are in essence confirming they have no valid AP claim.

In Italy your second house or even a duplex section the income is taxed higher.  

Perhaps if your partner was a general contractor or handyman type there may be some merit there to reduce costs / increase profitability.If your partner enjoys deal sourcing, a better move might be for him to become an agent - so he could legally collect commissions from finding deals and managing properties for multiple people. 

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Being a real estate professional allows you to treat the income as non-passive, allowing higher high income tax payers to pay less in taxes.

With SF, if it’s vacant, you have no income

Explore a DSCR Loan with Reduced Down PaymentSome lenders offer DSCR loans with minimal cash-to-close requirements if your property cash flows (even marginally).

The net rental income should be about 65% more than the mortgage. 

@Victor Yang To use the rental losses to offset any active income (W2), you'd have meet Real Estate Professional status (which would be difficult to do with a W2 job because you'd have to work more on real estate than any other job to qualify) OR have an AGI of $150K or less.

Interest income is interest income, unless you decided to roll some of the current cash into a self directed IRA at which point your interest income would be deferred for a later time and allow your funds to grow tax free.