Home Renovation and Tax savings tips

[Chioma Okoko]

My sister just closed on a new home and will be moving my parents in with her. The plan is to rent out my parents current house (which is paid for) then use the profits towards her mortgage. I currently own a home as well I use for short term renting. My question is will I be able to renovate my parents home and claim tax deductions on it even though it’s not in my name or would they need to add me (or my company) to the title to do so? Also, I won’t be getting any profits so would I be able to deduct all expenses? Trying to offset the profits from my current short term rental since there hasn’t been much renovations needed for it