If other workforce housing properties around you are cheaper then you still won't be able to raise rents.

Technically deprecation reduces taxable principal as a function of obsolescence.  

Also, if I have enough deductions to offset the income from rent, can the overage be used to lower my taxable income from my corporate career?

They might not be perfect, but it's cheap(er) and like better than you (or I) could do ourselves.

Or, would just 25% of the yearly taxable profits be able to be claimed? 

You may be best off with something with about a 1/3 cheaper purchase price.

It was cheaper then purchasing a list from a 3rd party.  

I assume the light portion would be cheaper flood insurance because the flood plane is less "severe."

I ask because my stamps, printed letters and envelopes are still cheaper than online services.  

., there are no strings of any kind attached), there are no taxable income consequences to anyone because a true gift is not considered taxable income.If you want to do more than $14,000 you can explore gifting twice that amount if you are married and your spouse either gives funds, or you make an election to split gift with her which would require a gift tax return just to make the election.Beyond those amounts you might need to file a gift tax return, but with the the lifetime gifting limits over 5 million dollars you would likely not have any consequences other than a gift tax return filing assuming you have not gifted previously over the 5 million+ limitation.I don't believe Mass has a Gift Tax, but you can do a quick internet search to confirm that.