We now live in Arizona and I frequently fly back to the southeast to repair or inspect the properties and already deduct the travel, lodging, and half of the meal expenses from my taxes. 

Forming an LLC for your rental property can offer liability protection, but no real tax benefit.

Quote from @Collin Hays: From a macro standpoint, cash flow is difficult when servicing debt, at least in the early years. 

.💬 Ask in the right forum – If you’re looking for financial advice, head over to the Finance, Tax, and Legal forum.

It is small multifamily with 30 year fixed rate debt. 

Taxes, costs, eviction complexity, etc are going to be a much bigger factor in your success than anything else.

The promise of accelerated depreciation and immediate tax savings is attractive.

- Look into if property taxes are reassessed after purchase.

Look for loans such as DSCR (Debt Service Coverage Ratio) loans. 4.

Its the City’s new way to enforce their Tax since so many weren’t paying