Tax deduction on due diligence

[Gaurav Bahal]

Hi,

I am starting out as out of state REI and am realizing that there is a lot of money that gets spent in doing due diligence on a out of state property. For. example airfare, lodging, property inspection, appraisal etc. and there is a chance that the deal does not go through. Is such cases am I allowed to take federal and state tax deduction on those expenses without having a LLC?

Thanks,

Gaurav