Buy and Hold Remodel - Add to cost basis or operating expense?

[Terrell Garren]

I am a buy and hold guy. Around 14 SFHs, annual gross around $120K and net around $30K. Just completed a SFH remodel to be rented. Purchase was $72K and upfit was $27K.

Do I have any leeway and any recommendations regarding tax strategy E.g. Leave the capital cost basis at $72K and write off the $27K as operating expense?  Or increase the capital cost basis to $99K for higher annual depreciation?  Or pick the true capital items (roof, HVAC) to add to the cost basis and expense the rest?

So you are thinking, what did I do the other 13 times.  See 5th Amendment.