Investors 

Since you clicked on this link, it's probably because you are exploring the pros and cons of rental property investments. That puts you ahead of about 99% of real estate investors, who are either too afraid, or too misinformed, about rental properties to look into them.

One of the biggest benefits of owning rental property is that you can often deduct expenses that are normally nondeductible for personal residences. With personal residences, the only deductions that owners are entitled to are real estate taxes and mortgage interest. However, with a rental property almost any expense related to the rental property may be deductible. To determine what is, or is not, tax deductible for you, ALWAYS consult a professional tax advisor or attorney.

That being said, some common deductible expenses include:

Here are some links to sites that explain the possible tax benefits much better than I can:

• Enjoying Rental Property Tax Breaks (Adapted From: Investing For Dummies, 4th Edition)
• Rental Income and Expenses
• Tax Deductions For Rental Property Owners
• Tax Deductions for Landlords
• IRS 527 - Residential Rental Property