Confirm again

“Let's say you spend $400K to buy a new rental property.  Only the interest of that $400K (6% x 400K = 24000) is deductible against the rental income”

This is the essential confusion point that I have, that is, this interest payment can be deductible against the rental income, which will become passive loss (if it is a loss) that can be carried forward to offset my earning when I sell that rental property.

Are you sure about this? Do you have real life experience of this? But thanks anyway, really appreciate your answer here.