For your 2023 taxes, you can deduct ordinary and necessary expenses, even if the property was mostly vacant.You can deduct the full travel expenses of ~$2,000, while meals are only 50% deductible, so claim $250 for meals.

The property includes a screened-in patio and an underground pool.

You can expect to pay $150 - $300 per square foot, which is what it would cost to build an ordinary home.

I see the rentals as wealth building and flipping/development as a job (with ordinary tax structure).

Hopefully, your lease says the tenants cannot modify the property without your permission.Some of the other items could be ordinary maintenance requests or something you are just stuck with.

Suspended losses from cost segregation are released and can be used to offset ordinary (W2) income when a property is sold.

Active = Income earned from Material Participation.Whether that's SMB, W-2, contract income, or prof real estate.This is income where ordinary tax is paid and losses offset other income.

...but between deprecation and ordinary expenses I'll be at a massive loss each year. 

You can still depreciate the property, perform a cost segregation study if applicable, and deduct ordinary and necessary expenses related to being a landlord.

Landscaping has the largest ROI (of about 200%), adding a wood deck or a patio will also provide a big increase in value (100% ROI).Add living space, consider converting attic space, finishing a basement, or repurposing a large living area to add a bedroom without expanding the home's footprint - this will give you an average ROI of around 75%.