Best Way to Purchase a Rental Property

[Travis Hargreaves]

Hello everyone,

I am closing on my first property in Elk River, Minnesota and I am wondering if the purchase of the home itself can be considered a tax right off. I know once it is purchased it follows the rules of deprecation, but can the initial down payment on a conventional loan be considered a tax deduction since the property is necessary to conduct the rental property business. Any help is appreciated. Thank you everyone.