The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.

Search for and buy a bad roof.

Can someone explain something about the buy, borrow, die concept of avoiding income taxes? 

Investment Info:Large multi-family (5+ units) buy & hold investment in Bryan.

Not sure about MTRs.My general conclusion was that it is tough to do business in the town if your goal is to buy property as pure rentals out the gates and no intention to occupy.

I've got a good amount of contractors I use for our long term buy & holds with heavy reno's up front. 

Buying a new one, changing tactics to LTRs, etc etc.

The 5-10 it gets heavier and a lot busier, and 10-15-20 it really is untenable to self-manage especially if this is not you main business like a person buying their own rentals and building it like a small business. 

Purchased a little too high at the buy (I knew it at the time too), does a little better than breaking even on cashflow, and took too long to rehab.

@Erick Pena please understand that buying rentals is NOT passive income!