I need an 11th hour assist from my fellow BP members to be sure I am handling a tax situation correctly.

The situation: I purchased an investment property in July 2017 for the purpose of renovating, creating 3 units...

At the risk of being a tax practitioner on this thread correcting someone...you're actually supposed to report number of days the property was rented at fair market value on Schedule E.Software will examine the fair market rented (FMR) days and the relationship of the FMR days to the personal use days for treatment under Sec 280A (which involves personal use of rentals and properties rented less than 15 days).The tax treatment for a property available to rent 365 days during the tax year but rented 0 days is much different than a property rented at fair market rates for 365 days.

I used to use the $5 corded ones too, even though my lease says that window treatments are by the tenants. 

Couldn't find much so want to understand what it means when buying RE.Also, what are the tax treatment differences between each.Thanks,Gaurav

People respond better to positive treatment.

Some overhead payments(real estate taxes, mortgage interest, depreciation, repairs) are considered personal expenses and potentially itemized while others are business rental expenses.You should consult with your accountant on treatment.

Aside from that, the tax treatment is largely the same. 

Property that qualifies for 1031 treatment is property you purchased with the intent of holding for productive investment use (not fix n flip). 

He inspected the unit and performed a liquid treatment 3 times - he would treat it, then come back a few weeks later to treat again, and then again.

I know taxes outside of retirement accounts for REITs can be a bit complicated, but I think the tax treatment is the big difference as far as I can tell.