Absurdly in California, all the sales agents and brokers go through a rigorous process of courses and exams in the real estate profession just to learn that they are specifically NOT allowed to provide any real estate advice that pertains to taxes and laws, two of the most significant areas of uncertainty for the general public. I could have been more helpful back when I wasn't accredited by the state.
In any case, it's difficult to answer your question. If you're in TX, the tax laws may be different from CA. And, without specifics about your financial situation, any answer would be a shot in the dark and not necessarily optimal for your tax situation. Choices between electing to expense or depreciate, increasing your leverage or not, and aggregating your rental properties all require financial details which I'm guessing you wouldn't be comfortable in sharing on this forum anyways.
So, my recommendation is to ask the advice of an experienced property investor or a CPA familiar with property taxes. Good luck.... more