I primarily do the fix ups and handle management, but like I said If i can make 30-50k on a filp in 3-5 months I choose that over renting out properties that will pull in 20k a year then after taxes, ins, utilities, you will clear 12-14k.I treat rentals as just a stepping stone or beginning foundation.

Or does the property have to be "put into service" before I can claim my losses. the expenses that I have accumulated for the 1 month in 2014 are property taxes, insurance, utilities and a few repairs/upgrades. 

Mortgage, taxes, utilities, and maintenance.

We have a lease that stipulates rent is $525 per month and the tenant is responsible for all utilities.  

I dont think you can if you are utilizing a third party escrow account - even in-house escrow account would hinder this. 

Also, $400/mo in utilities?

Many title searches/insurance policies supplied by REO title firms will not include, and have exceptions for, any unrecorded liens....such as utilities, code violation fines, etc.

I wouldn't put any utilities in my name.  

The reason I got notified of your comment because I have keyword alert setup and because I'm following this forum post (these are useful tools to utilize, look into that if you haven't already). 

@Phillip Syrios They probably look at debt/income ratio, credit limits, card utilization, length of employment, delinquencies, and bankruptcies.