In 2025 the bonus depreciation rate is 40%.This means that if you bought a property for $1M in 2025, did a cost seg study and found $300K in eligible assets that you could depreciate, you could take 40% of that $300K as bonus depreciation to offset your income in the first year.40% of $300K = $120K.You then apply that $120K to the owner’s personal tax rate to find the final amount that they can defer in year 1.If your tax rate is 37%, you can defer $66.6K.This is a big deal even at the 40% bonus depreciation rate this year.

My strategy incorporates asset protection measures like LLCs, specific trusts as well as professional property management to spread risk and ensure quality operations.As well as using tax codes to my benfiitSection 179, IRC Section 162, Cost Segregation and Bonus Depreciation and later 1031 them out for larger projects. 

That said there are some nuances and requirements to property implement interest tracing so ensure you talk to your tax professional ahead of time and keep the funds movement as clean as possible. 

The fact that you have a TAX-FREE income is crazy good.  

Forming an LLC for your rental property can offer liability protection, but no real tax benefit.

With the recent tax law changes in capitol gains taxes in Canada and this property not being their primary residence.

Are there any tax implications or considerations for Canadian investors investing in the U.S. through an LP?

The program is neither good nor bad, there's just different pros & cons compared to cash paying tenants.Have offered to schedule a call with you numerous times to try and assist you, but you seem to prefer posting & posting & posting - which will take so much longer:(What are the chances you'll actually invest someday, given how long it's taking you to do basic research?

Do we 1st do tax on the LLC and whatever we split 50 & 50 then each claims on their taxes ?

@Josh Ball mentions, there are issues with foreign investors but, nowadays, it's not necessarily on the tax front anymore.