As a multi-family residential property owner, you want to ensure your property is full of happy tenants and that you're making a good profit. 

When you acquire a rental property, the IRS permits you to allocate the property's cost over its useful life, enabling a reduction in your taxable income—a benefit commonly known as the depreciation deduction.

Understanding the Basics of Texas Franchise Tax: A Guide for Business Owners If you do business in Texas, you may have to file for and pay Texas franchise tax.