Don't worry, you still get to claim depreciation against your rental income, even when making above 150k MAGI.

@June Yang ,Welcome to BP.

Eventually, that trickles down to all aspects in that local community.The areas getting the development in LA are communities you would have had wanted nothing to do with a couple decades ago.Here is a partial list.Venice was total crap... now 1 mil for teardown.Santa Monica downtown had a ***** cat movie theater with Debbie Does Dallas playing and low lifes roaming up the ying yang...now 1.5 mil for small regular house if you are lucky.Silverlake was gang invested...now pricey hipster central.Hollywood....I used to work at Sunset and Gower studios in the 80s and it was sketchy out on the streets...now nearest condos can be in the millions.Culver City was sketchyPlaya del rey was sketchyEl Segundo was sketchyEagle Rock was sketchyMelrose was sketchyWest Hollywood was sketchyParts of West LA were sketchyParts of Pasadena and South Pasadena were no picnic either....all of these areas for most normal suburb folks were off the table....not anymore, bring your checkbook and maybe a bulldozer. 

Hi everyone, this is Yang and I just step into the rental property investment as my first try :).

Quote from @Branden Yang: Quote from @Taylor L.: Are you doing a 506b?

@Yang LuHi Yang,Thank you for the response!

@Yang Lu thanks I will try and look for agents near me! 

-Yang

If I am not mistaken, isn't there a limitation of $25,000 to deduct passive losses from W-2 income but only if my MAGI is below $100,000 and completely phased out at $150,000? 

Thanks for the quick response Yang.