Newbie needs quick advice!

Hello everyone, long time reader/lurker and first time poster. I will try to make this brief and get to the point. I have a rental property and enjoy doing it. We have been thinking about adding a second property, looking for seller financing. My sister has a house that she can not afford anymore due to a job loss and I was thinking about taking over her payments and renting it out. I do not know everything about subject to deals, but this would fit into that category (kind-of). If the house were to stay in her name for now how does that affect income taxes? Can I still claim the rental deductions that one would claim normally? Or since this would still be in her name would that not be possible? I can cash flow the house easily, but I need the tax deductions to ofset the income. Any fast help would be greatly appreciated. She said she is going to have to let the house go back to the bank and I want to keep that from happening because she has great credit. Thanks to any responers in advance!

If she is not late on the Mortgage qualify her with the HARP 2.0 that will bring down the interest to 4.5’ish and is a non credit based product. Then from there put the property into a trust make yourself a beneficiary to the trust and assume the payment that way. (Much Cleaner) Then yes you would get all the deductions that you would simply because you are a beneficiary to the trust.