First, there’s depreciation on the property, and as an investor you’ll get your pro-rated share, which you can deduct not only against the income from the property, but from your other sources of income as well.You could also be able to defer capital gains when the property sells through a 1031 exchange.

For three tax returns (fed, state, local), a MFJ couple with three rentals, that fee is reasonable for a NYC metro based firm, even assuming you take the standard deduction instead of itemizing, have no dependents, and no other activity other than the rentals and W-2s. 

@Joe S.Probably area dependent but around here even if the 3 tabs are new buyers are deducting cost of replacing them as they’re a garbage design in comparison.

Aside from that, the book Tax-Free Wealth has many pages about the benefits of long distance investing in areas you like to travel as you can deduct almost all expenses as long as your time there is spent for business (more than 50%).Hope you can find some use in these resources :)

There are really 3 ways to reduce your taxable income (deductions, depreciation and deferrals). 

My name is Levi Kuhlman and I live in Oregon.

This is a community development district fee that is levied by the developers onto the homeowners in the community to pay for the club house/pool area/playgrounds.

This is part of the contract for the form of payments. " (1) Tenant must pay all rent timely and without demand, deduction, or offset, except as permitted by law or thislease.(2) Time is of the essence for the payment of rent (strict compliance with rental due dates is required).(3) Unless the parties agree otherwise, Tenant may not pay rent in cash and will pay all rent by (select one ormore): cashier's check electronic payment money order personal check or other meansacceptable to Landlord.

Hi,I am looking to buy my first income property and wanted to know how much the maintenance, utilities and PITI should i deduct from the gross rental income?

What about expense deductions and my debt-to-income ratio for future rentals, how can doing this effect those?