Should I put property purchase + rehab costs in my P&L? Confused

[Joshua Powell]

So I'm starting to put together a fairly simple P&L in excel for the house hack I just acquired. I'll eventually move over to a more complex accounting software such as quickbooks down the line, buy I want to wait until I a have further understanding of basic accounting beforehand. This coming spring I plan on taking some accounting classes at my local community college.

My question is, how do you go about recording the actual acquisition of a property and the initial rehab that takes before you rent it out? Do you input them as expenses, just as you would anything else, or is there specific way you should record these items? And is there any resources that you would recommend to learn the accounting side of things on a more real estate specific level?