How is Cost Basis for Depreciation Determined?

[Peter Morrissey]

I purchased a two family foreclosure for cash in 2016, rehabbed and rented. Have not financed yet. I am about to have my taxes done and want to be prepared. For purposes of depreciating the property, how do I determine the value of the property? I don't want to use the purchases cost. I suppose I could you purchase plus rehab costs? There is likely more equity though so ideally I would like the cost basis to reflect the full value.

Pete M.