The funny thing is, as a owner-occupier you can’t deduct property taxes (because of AMT), Mello-Roos (see above). There seems to be universal consensus between economists on the right and left that Mortgage interest deduction is a giveaway, so I guess that is going away in 2013 too!
But if I just started renting this place out, I can deduct all of it (property taxes, HOA, Mello-Roos, Mortgage interest..) on schedule E.
So flu, you and I should sell each-other our house and then rent it out on a long lease. That way we can side step all these tax issues