New tax law and $150,000 phase out on deductions

I’m wondering how the new tax law has affected buy and hold investors who phase out at the $150,000 W-2 max income for deductions. My wife and I own four properties in Washington, DC proper, and rehabbed one last year significantly before renting it out.

We were underwhelmed when learning we phase out of any tax deductions because we both have W-2 income that combines for $150,000+.

Am I missing something? So every improvement or repair we make in the future has no tax benefits? Am I thinking about this incorrectly?

We are not “real estate professionals” (we have W2 jobs) but without the tax benefit, I’ll certainly be re-thinking my strategy moving forward.

Any advice greatly appreciated.