Hardwoods have been restored.

Upon end of the lease there's usually a clause that they restore it to "like new" condition.  

Only necessary replacement work was performed like the heater replacement while the existing ducts (and such) were only cleaned and restored.

Restored and improved the missing master bath and completely gutted the kitchen.

-Use a contractor who focuses on Fire Restoration if not a teardown.

You may be able to deduct it under the de minimis safe harbor or safe harbor for small taxpayers, however under the BAR tests it would generally be considered a restoration as a major component of the plumbing subsystem is being replaced. 

I had planned to put the building into a non-profit because we intend to use it for retreats and community space and would like to avoid the realestate taxes as well as accept donations and grants for the restoration of the church. 

He has restored everything back to me and more!

I have to spend money and time to restore my house.

My next favorite strategy would be (college or not) buy a duplex/triple/quadplex, live in the crappiest/smallest unit, rent out the rest (or whatever could be rented while rehabbing), get the whole thing nice and stabilized, move and do it again.