And do not allow any lease payments to count against the purchase if executed. 

If anyone has first hand experience and an example of how to use this deduction, that would be really helpful.

I saw a BP post which recommended a simplistic approach of  one LLC for operations and one Series LLC for asset holding, however it seems NC doesnt allow Series LLCWhat are my options and what are pros/cons?

You should have a main account for each property and then most local banks will allow you to create sub-accounts where can store funds or separate them into those buckets as the rent comes in.

I’ve had an easy job, an overnight counselor at a group home that has allowed me to obtain mortgages for enough properties to be able to retire and go to limited part time work 4 years later.

It's a great way to increase your net worth and these loans can also be used to pull cash out of a property as it appreciates allowing you to reinvest money into new deals.

This is out of an article that should help you get your research started: A taxpayer may not deduct losses sustained in the demolition of buildings and their structural components.

Dunno, but that might work.Third, house hacking allows better financing rates.

Hey Hemanth, You can structure this on a portfolio loan with partial releases allowed, as long as the portfolio can debt service at 1.00 with the total income and expenses from all properties remaining. 

The preliminary report says we would be eligible for ~$390k in eligible deductions.