You can simply let your new property sit and make money debt free until you have the need for the cash. 

Not exactly sure how this would work to make sure we are taking advantage of the loss reported for our own personal taxes.

It's just too risky to have that much high cost debt at one time.

Should be fairly straightforward You know the cost you'll pay for the property The rate and term (ex 7% for a 30yr fixed)Property taxes - this can be looked up via https://atlas.phila.gov/(If you are house hacking you van take advantage of the $80k homestead reduction)Insurance - this may be a bit tricky unless you reached out to a broker already Is there an HOA? 

As far as I know it's just the jump in property tax that comes into play.  

New construction offers a unique blend of potential high returns and control over the investment, making it an attractive option for those looking to diversify their portfolios.The Advantages of New Construction InvestmentCustomization and Control: New construction projects offer investors the chance to tailor properties to meet current market demands, ensuring higher occupancy rates and returns.Energy Efficiency and Sustainability: Modern constructions come with the latest in energy-saving technologies and sustainable materials, appealing to a growing eco-conscious tenant base.Lower Maintenance Costs: With everything brand new, the initial years following a new construction project see significantly lower maintenance costs compared to older properties.Tax Incentives: Many regions offer tax benefits for new construction projects, especially those that meet certain environmental or economic development criteria.How to Approach New Construction InvestmentEmulating Buffett's investment strategy involves careful market research, understanding local real estate dynamics, and potentially partnering with experienced developers.

any consumer debt, student loans?

I also look at capital appreciation, tax savings, cash flow and cash flow appreciation.Where you invest, investment support structure for each property, and additional factors important to your individual decisions all make a difference as well. 

The reason I say to invest in opportunity zones is because large investors are coming to these areas and taking advantage of the tax savings.

Here's a simplified and effective approach: Gather Information: Obtain details about the property, including its purchase price, estimated rental income, expenses (such as property taxes, insurance, maintenance costs, and property management fees), vacancy rate, and any financing terms (e.g., interest rate, down payment, loan term).Calculate Gross Rental Income: Determine the total potential rental income the property could generate annually.