Unless you or your spouse qualify as a real estate professional it's not very likely, unless you have other passive income you are trying to offset.Since you placed this in service in 2022, you would need to file a change in accounting method to factor in the cost seg for 2023. 

A luxury oceanfront Duplex that was listed for $2.5M recently sold in Rockaway Beach OR for $2.1M and averaged $300k Gross income the past two years.

A cost segregation study is a federal income tax tool that increases your near-term cash flow by deferring taxes.

I have been hearing a lot about strategy where by getting into real estate one can benefit on tax deductions on high income 401k salary.How does it work?

They just denied me because they said my properties are showing a loss on my tax return and can’t use my rental income to off set my DTI.

Whether it has been the incoming leads and purchasing rehab properties or sharing and discussing exit strategies and property details/value/thoughts, they have always been of great service for our company.As a seller having little to no experience in the Real Estate market, I can see how they would misunderstand the process or what needs to be in place for a sale.

Focus on income or don't rush it.

Conventional is a bit of a challenge however, because I lack the proper credit and income.

@Joseph Taylor - consider ordinary income tax as an expense even if you are holding for more than a year you might be considered in the business and your real estate is inventory if the goal is to flip.

In order to move in a family member – the family member must be of the same age & income bracket as the persons they are replacing.