Purchase price: $85,000 Cash invested: $33,000 Cash flow is after all expenses including vacancy, maintenance, and capx deductions.

You still claim the income as miscellaneous income and deduct property taxes and mortgage interest (subject to SALT and other high mortgage limitations) on your Schedule A, but that's it.2. 

Just deduct security deposit and move on.

Bonus - the interest on the loan is tax deductible!

Having the books properly set up for the first time ever will help me get all the deductions I’m entitled to.

I’m looking for a tax pro that will assist with understanding and maximizing deductions and business expenses, but also guide me through the cost segregation and accelerated depreciation process. 

In his, it may be called something else, but once he checks it, his software should unlock all past losses specifically linked to the sold property.

These specific questions should be posed to the agent that sold you the policy. 

Wanted to know if landscaping is a tax deductable expense in general and if it differs when one unit is owner occupied.

My understanding is profit from lending is considered "taxable income" and is therefore added to your income and subject to your normal tax rate after all deductions, etc.