It's important to distinguish between repairs (deductible) and improvements (generally not immediately deductible).Utilities and other expenses: You may be able to deduct certain expenses directly related to the rental property, such as utilities or advertising costs.

Have you thought about getting a HELOC on the house while you are still living there to utilize some of your equity? 

Here is an example of the loan summaries that I utilize for my Baltimore clients, being careful not to exceed certain loan-to-ARV and loan-to-cost limits.

Oh, also, I think paying for all of the utilities and building that into the cost is better as well. 

Make sure your representative feels at ease utilizing technology for correspondence, sharing real estate listings, leading virtual tours, and remotely managing paperwork for signature.create a local team that includes an experienced real estate attorney, accountant, and insurance agent in the Houston region, in addition to a real estate agent and property manager.

The current condo I own is non-warrantable which eliminates utilizing traditional loans. 

Nathan -It's understandable that you want to optimize your tax situation by strategically utilizing your capital losses.

If applicable, it also gives you the opportunity to update language regarding utility reimbursement methodology in the lease.

is there a use that can backfill what you currently use it for and utilize most of the buildout. 

An additional benefit of a detailed engineering-based Cost Segregation Study is that it can increase potential insurance premium savings as well as provides support for the property tax appeals process.Additionally, it can help maximize renovations and improvements.A Cost Segregation study is an IRS approved federal income tax tool that increases near term cash flow by utilizing shorter recovery periods for depreciation to accelerate return on investment.