In other cases, which is the most likely situation for you, there is no reporting.https://www.irs.gov/publications/p523#en_US_2017_publink100011876

Only public (wall Street) or local mortgage broker.

@Anthony Wick more doors doesn't reduce vacancy.

They even offer free classes in real estate related law that I think are open to the public.

Cash flow doesn't include non-cash transactions such as depreciation and amortization.Using $15k as a downpayment on a new property wouldn't be an expense for tax purposes.Your closing statement could be scrubbed for more favorable tax treatments (than 27.5/39 year depreciation), but the bulk will be capitalized.As Ashish mentioned, there are strategies to reduce taxable income, but what you're proposing won't.

I usually find pre-screening questions is helpful, and reduces you wasting your time showing the property to non-qualified tenants. 

Seems doomed to fail in any sort of market correction. maybe its like publicly traded companies that have Billion dollar valuations but make no money :) 

Am I missing a sizable tax loophole or reduced tax rate?

The risk is that the project is significantly delayed, and you would have to eat the costs of holding and living there, or holding and renting for reduced rent.  

You can claim depreciation etc to reduce your tax.That beats putting money in the bank....