They said that I need to contact a tax professional because there might be tax implications and it may affect my mortgage interest deduction.

Im just going to bite the bullet and not take all of my deductions so I look like a normal person.

How can I ensure I can use these as write offs/deductions on my schedule C/1040 NR and what can I do to protect my LLC from being pierced when accounting for these expenses incurred while it was in my name?

But, you get to deduct certain expenses against that income, and you are then left with a net amount on which you actually have to pay taxes.

They asked if I couldn’t deduct HOA fees from my taxes.

She owns several properties herself so she is familiar with rentals.Personal taxes for me and the wife, 4 properties, kids deductions, itemized medical expenses, the whole shabang....price went up to $105 this past year.

Also look at self insuring a portion through higher deductibles.

To me it is dumb to be able to deduct the money anyway.

To some extent if your buyer has enough ownership to claim the mortgage interest deduction they have enough ownership to force you through a foreclosure if they default.

The "50% rule" simply says that operating expenses (per IRS regulations) plus vacancy (actual or economic) plus capital (expenses you incur in one year buy must amortize (deduct) over multiple years) will average out to about 50% of the gross scheduled rents.