Section 212 (and the regs thereunder) allow for the deduction of all the ordinary and necessary expenses paid or incurred during the taxable year for the production or collection of income and or for the management, conservation, or maintenance of property held for the production of income.
See https://www.law.cornell.edu/uscode/text/26/212
See also https://www.law.cornell.edu/cfr/text/26/1.212-1
Section 167 allows a deduction for depreciation of property held for the production of income.
See https://www.law.cornell.edu/uscode/text/26/167
