[dugmartin]

If you have a commercial loan the interest is tax deductible as a business expense. The "tax shelter" many people think of when thinking of becoming a landlord (and is not allowed) is deducting passive losses each year (eg rental income is less than all your rental expenses) when you are not a "real estate professional" as per the IRS guidelines. You can deduct those passive losses when you sell "substantially all" your property. IANAL but I did own, landlord and then sell a commercial property (and would never do it again).