How to Best Utilize Depreciation Losses on Real Estate Investments?

I’m looking for insights on how experienced investors and tax professionals optimize depreciation losses from real estate investments. Specifically, how do you approach using passive losses, cost segregation, or bonus depreciation to maximize tax benefits?

Additionally, I’m in the process of qualifying for Real Estate Professional Status (REPS) and wondering how depreciation losses from properties I acquired before obtaining REPS will be treated compared to those I purchase after. Will I be able to retroactively apply my REPS designation to those properties, or are there limitations I should be aware of?

Should I push my CPA to file reps for 2024 for a large investment I made with almost 100% depreciation?

Any guidance or personal experiences would be greatly appreciated!