The accounting system allows you to keep track of costs like mortgage payments and amortization with insurance and taxes as well as part of the asset management. 

@Raheem Mills so please check with your accountant as tax laws have changed.

The way that I think about it is that these losses are future tax benefits.

Even at 280 it leaves you at $32k and after taxes brings you down in the low-mid 20's, with no hiccups.

As someone else stated, once you own a property in SC your property taxes will be about triple that of an owner occupied person!

Also, I can 1031 exchange some of my rentals that I have had for 25+ years and defer the taxes. 

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

@John Malone are you a tax attorney?

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

Income Late fee Gross rent Expenses Advertising Cleaning Gardening/lawn mowing Insurance Interest on loan(s) property tax Legal expenses Pest control Property agent fees/commission Repairs and maintenance Water charges Electric Bill Total expenses Net rental income or (loss)