Deduction and Depreciation of AirBnB rental

[Chris Penny]

So I am about to put the master bedroom (with bath) in my home (of 3 beds 2 baths) to Airbnb and I am confused about all the tax-related stuffs. Let's say my home is 1500sqf on a land of 6000sqf, and the whole master bedroom is 300sqf. 

1. I believe that I can write off the depreciation part of the room but how is it calculated? Is it going to be prorated based on the area of the room vs. the whole house?

2. Can I still claim the whole mortgage interests and property tax as deductible given that I take depreciation write-off of the Airbnb room? I read somewhere people say that I have to prorate for the part of the house that I am living in (i.e., exclude the Airbnb room). Some others say I can still claim the whole thing. 

3. Is all expense for the Airbnb room deductible and what are the exceptions? I bought multiple items for the room: small fridge, microwave, curtains, mattress, bed, nightstand, working chair and table, etc. 

4. I am thinking of hiring a contractor to replace the window of the Airbnb room with a sliding door, giving guests a private entrance. Material cost of the door is $800. There's a contractor who only takes cash can do the work for $1000. My understanding is the material cost of $800 is deductible, but I'm not sure about the $1000 labor cost?

5. Since I will start renting this October, pretty sure that the expense will exceed the income. What would happen to my deduction in this case?

Thank you