How to best mitigate personal income tax with REI?

[Tyler D.]

Hey BP,

I have read a myriad of articles talking about the various tax benefits, but I am unclear on how they apply in the real world. 

Say that you are a high earner, earning $500k per year. The top end of your income is being taxed at roughly 50%. What would be the best way to lower these taxes? Which Real Estate tax deductions apply to personal income, and which only work for income from the Real Estate itself?

Would it be smart to target areas with high property taxes, for that deduction, or to buy negative cashflowing properties in high-appreciation areas?

Let me know your thoughts on this.