This is different than capex and consists of smaller, less costly items.

Since we're replacing a few items, he recommended getting this done and getting the electrical up to code. 

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Note how I reiterate the qualifying criteria as well as itemizing what the move-in costs will be.

I will say that some of these items have just sat.

Does anyone have a great source for what rehab items can be deducted immediately v. depreciated over 27.5 years?

The capX on this property all checked out so we have a few years to save for some of those bigger items.

Our parents helped us pay for it, which for me personally was a hit to my pride because I wanted to feel like I was providing for my wife, not having to rely on mom and dad.Second, this house just had tons of maintenance items that would come up over the years.

See below a checklist of items you will need:Copy of your Driver’s License(s)2 Most Recent Paystubs2 Most Recent Bank StatementsMost recent retirement/investment statement covering the most recent 60 days2 Most Recent Tax Returns2 Most Recent W2’s/1099’s2 Most Recent K-1’s, if applicable*If your ownership is greater than 24%, please also include copies of your 2 MostRecent Business Returns, YTD P&L and Balance SheetFor all properties that you own, please provide the following:Current mortgage statementIf you do not escrow for taxes/insurance or if you own free and clear,please also provide:Current insurance statementCurrent Tax BillCopy of your current/most recent HOA receipt, if applicableFor any/all investment properties, please provide a copy of your current leaseagreements, if applicableIf you pay/receive child support/alimony, please provide a copy of your completedivorce decree and/or child support agreementAre interest rates the same as buying a primary residence or higher?

Some items I will leave to the experts.Secondly to that do I need to put an offer on the house and have it under contract before going through with an inspection or walk through with a Contractor?