So far I have:-Depreciation =deduct home price (divided by 27.5) from your income, rental for active income-Rental income is taxed less than active income (what is it, like 15%)-Ability to set up corporation to pay less taxes (would this be the 7.5 ssn, or are there others), deduct all expenses related to business activities (gas driving to rentals, CPA/Attorney fees, home office possibly, etc.)

@Ryan Naylor @Saravanan Saravanan I guess I should also consider deductions on refinance vs investment loan. 

We will deduct our expenses/fees from this, and pay the owner with the remainder.

@Luis Rangel, vacancy is an "expense" that is deducted from Gross Scheduled Rent (GSR).

Final Note: Many contractors will offer to waive or “discount/absorb” the deductible in order to help seal the deal.

Hi everyone, is there a cap on how much rental loss you can deduct again your w2 income as a real estate professional?

Are you saying that the IRS requires we take deductions if they are allowed?

Since 2016, the limit is $2,500 per item or invoice above the cost of many refrigerators, meaning you can elect to deduct the cost of a new fridge rather than depreciating it if that's better for your tax purposes.

(You probably can take bonus depreciation as there is no such restriction) Also, your business needs to have net income to take section 179  deduction.

If so, you might Able to deduct the interest and the property taxes for the house In your personal tax return.