@Bobby Shell On top of depreciation, you can deduct losses that year if you have an LLC and are purchasing a property (not the tax expense, but losses to reduce your taxable income if this is a pass through or solo LLC).

@MIke Williams  I assume you're keeping this as a long-term rental real estate property and you're not flipping it.You're most likely creating taxable events by buying the property either (1) from your partner after he distributes it to himself via quitclaim or (2) from the LLC (IRC Sec 707)...You should seek counsel from a tax CPA/EA and perhaps talk to more lenders. 

To self-certify, a taxpayer merely completes a form (which will be released in the summer of 2018) and attaches that form to the taxpayer’s federal income tax return for the taxable year.

They can declare the entire retirement entity taxable, and impose a hefty fine as well.

Will my monthly payments including Principal and Interest be taxable at the end of the year? 

It is made after the 5-year period beginning with the first taxable year for which a contribution was made to a Roth IRA set up for your benefit, andThe payment or distribution is: Made on or after the date you reach age 59½,Made because you are disabled (defined earlier),Made to a beneficiary or to your estate after your death, orOne that meets the requirements listed under First home under Exceptions in chapter 1 (up to a $10,000 lifetime limit).

If you are over age 59 1/2, you can tax taxable distributions from the IRA, however.Flipping properties, if done on a regular or repeated basis, is something that has a tax liability even inside of an IRA.  

Also, your profile says you want several more rentals and you like to fix/flip.....isn't the buy/hold or fix/hold strategy more tax efficient than flips (wherein your profit is taxable at ordinary income rate immediately, as opposed to rental)?

"How could an investor best utilize property to lower taxable income"?

The amount of cash put down would be taxable in the year of sale.