Talk to a local lender that'll go over all the details with you.

I cannot speak to the rates since my locale has higher labor rates, however you should get a detailed cost break down from the contractor.

I know BP is a great place to look but have only found articles and threads that talk about the strategy of quick cash buying and not the nitty gritty details of everything that goes into it.

@Christian Nachtrieb Shoot me a message if you're interested and we can work out more of the details. 

The cabinets won't fit your kitchen, but usually they're just sitting loose on the floor, so you can look at the details a little and see how a real official cabinetmaker or finish carpenter did it 40 years ago

https://www.irs.gov/pub/irs-pdf/p527.pdfThere is not any category for "personal property," check the GDS Property Classes for more details. 

And it could be either situation, depending on details which should be discussed with your tax accountant.

Looking for contractors, electric, installs, floors, message me with details if you can assist with references. 

I don't do anything other than pay someone to clean the place up.I outline the details my my website which since I can't post that link here (Bigger Pockets rule), you would go to my Profile and click on the link there.

That is a really beautifully constructed home right down to the tiny details!