Questions about depreciation deduction income limit and set up costs

[Jolee Zhao]

Hi all, Happy New Year! I have a couple of specific questions that I'm looking for your help in answering to determine the best strategy in listing my first rental. Much appreciated in advance!

Questions - 

1. Would I be able to take advantage at all of any rental depreciation, or use it to offset my rental income, given that 1) I'm on H1B, so I cannot materially participate in managing my properties, but I can actively participate. 2) My individual AGI will likely be greater than 150k, and joint filing AGI with my husband is definitely greater than 150k.

1b. If the answer is no, then does that mean I won't benefit from cost segregation either?

2. I read about how start up costs before property goes into service and operating costs after they're in service deduct differently. Can someone explain those a bit more? I think the set up costs from 2023 can be considered as start-up costs, and be deducted up to 5K in my 2024 tax (please confirm)? But what about the renovation costs I put into the house in 2021? Can those still be deductible in some way if I put my house in service in 2024?