Starting Out Tax Deductions - First Year?

[Chad Tessmann]

I am going to have 2 properties that I am projecting losses on. One is going to be a short term rental and the other is a house-hack. The STR I am going to be building from scratch (in Alaska btw). Are there any tax deductions credits I can look for?

So I bought a house this year and I am currently house-hacking (yes, house hacking a SFR). But I am also buying some raw land to build a vacation home on. My vacation home is going to be built, then used as a vacation rental during the times I am not there. Currently, I am projecting a loss on the property, but the end goal of this was just to offset a little bit of the cost (even if it only offsets the mortgage interest, I consider the deal a win). I am doing this for my grandfather who always wanted a cabin for the family, but never got the chance himself. But I want to make sure I don't miss out on a possible tax credit/deduction opportunity here if there is.