@Jane Mipsey putting the investment property in an LLC is purely for limiting your personal liability, not for tax purposes.

After this year's tax bill I need to do something different to reduce my tax liability.

Basically kill your deal if they do not like it or feel there is a red flag.If you did not supply a tax return or lease they should not consider it a rental even if you do not own a primary home.

Hi Emily, I'd say Azibo, Stessa, REIhub are good rental accounting options that offer income/expense tracking, financial reports and tax reports (Schedule E).Azibo and Stessa offer business bank accounts.

When you die, your heirs inherit the property at a stepped up tax basis capturing the equity tax free.

We have several strategies to mitigate delays and fees that work well and keep the tax advantaged status of the account secure.

In this case, how and when can we incorporate those expenses into our taxes? 

No worries, we all need a hand with taxes.

No property taxes. 

Taxes have to be collected somewhere.