Common projects are large multifamily apartment complexes focused on a value-add strategy to reduce risk, taking Class B products and improving them to Class B+ or A equivalent.

There are some things you can potentialyl break out so make sure you have separate costs for materials/labor for:Land improvements, paint, flooring, appliances, blinds- there are few other more specific as wellA good REI Tax Strategist can help ensure you get the most benefit from your renovation

You could take it to the next level and assign a value to the land improvements and buildings as well. 

The numbers improve if you only keep 5 acres with the house and sell the other 15 acres for an added $900,000.

Additionally, local legislation has been restrictive in the past (although it is improving in some areas!)

I bought the home in 2010 for 234,000, and I invested 150K for improvement/add-ons.

I don't use a co-host, but I would expect to pay for any permanent improvements to my property. 

I'm ready to move on from this tenant, fix the place up, and improve the asset. 

This tax credit is a federal benefit that saves companies money for implementing activities such as improvement, design or development of software, processes, formulas or products.

If you spend the time, you will expand your connections and improve your knowledge.