The only cost for paying cash is losing the deductions for interest, interest that tenants pay, and by using cash you lose the current value of it to buy more real estate. 2.

In fact, I'm a neighbor, living in Laguna Woods, near you.Let’s look a little closer at those options:Option #1 Pay $100,00 cash to purchase a house in-fullMonthly rent: $800Monthly cashflow:  $300 (after expenses and an allowance for vacancies, misc*)Annual profit: $3,600Home value after one year (4% increase): $104,000Advantages Don’t have mortgage payments100% equity to borrow against if neededHigh monthly incomeCan deduct depreciation on taxesOnly one tenant to deal withIf you lose your tenant, you don’t have to worry about covering a mortgage each monthDisadvantages Can’t deduct mortgage interestNot enough cash flow to save for bigger emergenciesIf you lose your tenant you will have 100% vacancyCannot force appreciation.

Likely you do not have personal property there above the deductible amount.

@Levi GrazianoWhat was the agreement between you and the management company before closing?

I would also be interested in learning about types of deductions I can take.  

Data shows that the housing market has slowed significantly in recent months and many attribute that to the caps on homeowners’ deductions in the new tax code.

The insurance company (all the same insurer) has said 3/4 can eligible for a full replace for the deductible (5000 each property) I filed these claims last December, and they looked at the roofs with the insurance company in April because of snow.

Based on your description of no income and no deductions, I doubt that you had a requirement to file a 1065 for the LLC.

It would not be a good investment long term.I assume you mean you can deduct property tax from your income (you mean $20k gift). 

In some cases, mostly for out of state landlords, you can work out a deal with the tenants that if something breaks, they can have someone fix it (must show receipt) and it gets deducted from that month's rent.