See what areas have monies allocated to rehabilitation projects, what's going on in the surrounding 1-4 block radius,  what are the rental/flip stats, etc. 

Because almost all costs of acquisition and rehabilitation expended prior to the rental being placed in service go towards the cost basis, I question why you have so many write-offs.   

Don't believe everything you read on the internet :)Good luck,JohnsonUnits That Are Exempt From the Rent Adjustment LawSection 8 units and other units that have rents that are controlled, regulated, or subsidized by a governmental unit, agency, or authority.Accommodations in motels, hotels, inns, tourist houses, rooming houses, and boarding houses, provided that such accommodations are not occupied by the same tenant for thirty (30) or more consecutive days.Housing accommodations in any hospital, convent, monastery, extended care facility, convalescent home, nonprofit home for the aged, or dormitory owned and operated by an educational institution.Dwelling units in a nonprofit cooperative, owned, occupied, and controlled by a majority of the residents.Dwelling units which were newly constructed and received a certificate of occupancy on or after January 1, 1983.Buildings that were substantially rehabilitated after January 1, 1983.

Given how much rehabilitation I've had to do to my property, and how much more I must do in order to keep it habitable at the benefit of my tenants, I will be losing money on this decision if my tenants are able to leverage me out of being able to safely and peacefully enjoy my home.Many people imagine building owners to be greedy, lazy, members of the landed gentry class.I refute that idea.

Outta 100 you might find 1 that will cash flow but with a lot of extra cost of rehabilitation.

@Lewis AcostaYes, using the FHA 203k Rehabilitation Loan is a great option due to the flexibility of qualified property types and low down payment requirement. 

For Matt from Licensed Mortgage Loan Originator ( >24yrs. experience):  If the Seller will give you any form of Deed (QCD, SWD,WD...) even without paying off the existing mortgage then you may save costs by not obtaining new financing UNTIL AFTER you complete the necessary rehabilitation.  

It is a owner occupied rehab product which allows you to rehabilitate the house at the same time you are occupying it.

Here are the top 20 that my clients utilize.1031 Exchange and 721 Exchange - To help preserve wealthOpportunity Zone Fund - Allows you to defer, eliminate or reduce gainsTax Structure - To increase tax efficienciesBifurcated Depreciation - To help maximize investor tax efficienciesUpReit - A cashout strategyAcquiring Losses in Existing Real Estate Fund - Buying tax write-off for your investmentsSolar Tax Credits - Tax deduction for up to 26% of the cost of a solar energy systemNew Market Tax Credits - Tax credits for investing in qualified equity investments in designated Community Development Entities (CDEs)Design Tax Credits - Maximize architects and developers tax efficienciesEnergy Efficient Tax Credits - Properties that qualify as energy efficient could receive a tax credit of $2,000 per unit or dwellingCharitable Contributions - Tax deduction of up to 60% of your Adjusted Gross IncomeBrownfields Grant - Tax credit for the cost of eligible cleanup expenses in the year they are incurred.Historic Tax Credits - Rehabilitation tax credit for up to 20% of the cost of the rehabTIFS - Receive a refund for helping finance a development in a specific areaDispositions - Dispose of the abandoned or retired assets therefore reducing taxable incomeCell Tower Income - Negotiate in your contract for the carriers to pay the real estate taxes on the cell towerLoss Development Rights - Conservation easement resulting in a deduction of up to 50% of AGIAir Rights - Is considered a like-kind property thus the purchase or sale is considered a like-kind exchange for tax purposesProperty Tax Abatement - Reduce property taxes on new construction, major property improvements or rehabilitation of propertyFacade Easements - A conservation easement to preserve the character of a historic building and is treated as a charitable contribution What tax incentives/strategies do you or your company utilize?

Parts of this particular city have been and will continue to be rehabilitated.