Quote from @Christopher Stevens: Does anyone know how we can write this investment off to help reduce our tax liability?

It'll at least help you reduce your living expenses.

To be safe, consider starting with standard percentages or slightly reduced figures until you have reliable data on the property’s performance.

It's wayyyyy safer.The biggest question to all GP is this : can all you GP guys survive if Fed does't change their rate or only reducing by a bit ? 

This significantly lowers the cost per door and improves your return on investment.Scalability: A three-story walk-up design allows you to maximize your build cost and land use, just like most professional apartment developers do.Control with New Construction: Starting with a new build ensures fewer risks, as you’ll have control over the property’s condition and avoid surprises from existing structures.Pro Tip: If you do go with an existing property, make sure to thoroughly vet the deal to avoid hidden costs and issues.For first-time investors, multifamily new construction is often the best way to scale quickly, reduce costs per unit, and build a sustainable rental portfolio.

@Tanya Maslach For properties in Ohio, it’s simpler to form an LLC in Ohio rather than Colorado, as it avoids registering as a foreign LLC and reduces costs and administrative work.

A conventional loan under an LLC provides liability protection and easier rental management but requires a higher down payment (20-25%) and stricter lending terms, which can reduce cash-on-cash returns.

I am in the process of purchasing a 6-unit and am dealing with that same question of how to reduce heating costs, as the oil bill is by far the largest expense. 

You can even use some of the equity from this property to reduce the down payment burden on your next home without "throwing away" the value you've built.

or you can buy down your rate or pay points to reduce the interest rate as this is a commonly way to reduce your monthly PITIA payment.