This bill proposes significant amendments to the Internal Revenue Code of 1986, primarily targeting large-scale owners of single-family residential rental properties. Its core purpose is to deny specific tax deductions for taxpayers identified as "disqualified single family property owners." A taxpayer falls into this category if they own, directly or indirectly, 50 or more single-family residential rental properties in a given taxable year, with aggregation rules preventing circumvention. Under these amendments, such disqualified owners would no longer be allowed to deduct interest paid or accrued on loans related to these properties, nor could they claim depreciation deductions for the properties themselves. An important exception exists: these deductions may be permitted in the taxable year a property is sold. However, this exception is narrowly defined, applying only if the sale is made to an individual for their principal residence or to a qualified nonprofit organization dedicated to creating or preserving affordable housing, such as community land trusts or land banks.