It is possible that you could take the deduction for your rental as a separate investment activity. 

Keep in mind that reporting rental income could open up some tax deductions, which might benefit you in the long run.

An LLC doesn't provide you the ability to deduct something that wasn't deductible before.You also want to be wary of 2% itemized deduction which is what you are describing a lot of your expenses.They are currently non-deductible at the federal level.

Interest payments can be seen as a return because its a tax deductible.2.

Finally, two other things that you can look into or talk with your CPA to see if there could be any advantages to you (you may be phased out due to income for some) is the Section 199A pass-through deduction, which would require you to start tracking hours spent on your real estate enterprise, as well as the possible CA SALT tax workaround in case you were interested in deducting more than the $10k state and local tax cap for the next few years.If you need referrals for professionals in any of these areas in the San Diego area, feel free to reach out. 

I’m not an accountant and this isn’t legal advice but if you’re renting a portion of your property likely you can deduct something off your taxes to help offset the income from the rent.

So I've been doing my own taxes in Turbotax for 20 years now (I only own 2 rental properties but both were BRRRs), and I finally got stuck on something and went to a CPA 2 years ago, and he reviewed my past 5 years of returns and pointed out that I had made multiple mistakes (incorrectly categorizing repairs vs capex, calculating basis and therefore depreciation wrong, failing to realize that certain expenses for a home converted to a rental property start being deductible the day the property was placed in service vs actually occupied, the list goes on). 

Are you navigating a Sec. 1031 exchange or facing deferred tax gains and looking to understand how to optimize your deductions?

The new property is the tax shelter that can take some of the burden off of your carry over year to absorb some deductions.

However, I would ask them and see how much of it you can deduct.