The repairs are necessary for the upkeep of the property and for higher rents.

Those memos do not hold authoratative weight but shows the IRS’ thoughts!

Maybe, maybe notYou have to weight the pros / cons along with the risks.Your BP mentions you are 'new to real estate'.You are getting into a new asset class along with a business(I consider a STR more of a business than an investment).How much will you save in taxes?

I am a high-wealth earner with years of employment ahead for me, so I will not feel the weight of this loss other than shame on me for not appreciating this risk better before committing.

So the weight of selection really comes down to you, what you most want to do, strive towards etc.. 

Consider both immediate repairs and ongoing upkeep.4.

There is no “easy button”, that’s why we all learn from every transaction.There are thousands of commercials that claim to make you “lose weight by taking this supplement “ or “you”ll make thousands of dollars a week after buying my course “…please don’t be so quick to believe everything someone says, fact check!!!

Restoring the property sounds like a good investment, but rural properties require constant upkeep.

I'd recommend getting an REI-savvy tax pro so you guys make sure you're maximizing your tax strategy as well as when it comes time to file.An REI-savvy tax pro is worth their weight in gold.

The Berkshire summer weight comforters are also great.