Once you purchase the property, there are various kinds of stuff that you can deduct.Rather than giving you the list, first, let me say that you can deduct expenses that meet these two criteria:Ordinary Course of BusinessNecessary in the course of businessHere is the list of some of the items:1) Mileage: any mileage that is associated with the rental activity.

@Bill Zhou The best answer to this is a 3 step item, as you have 3 issues here to address and NONE of them involve selling. 

On my spreadsheet I have a line item for renovations and a line item for furnishings, then a holding cost depending on how long the renovation and furnishing will take.

@William Collins hi how are you coming along today, we're from Brooklyn ny market is very tough here so we want to explore a new area which there is a demand for rentals and we can get good at least 10 cap deals and it should get good apprised (we're doing the BRRR) so we've looked up a few areas, Putnam Ct looks a nice area we would like to buy a nice amount of properties our question is if rentals is a item there and here a little more info from a insider from that areathanks so much  

He doesn’t keep the place very well, just dirty, but overall he doesn’t give me any trouble other than those items.

Tons of content out there about these items and more.

Try to find a product that has an add value ability from the exterior items, the interior concept including washer and dryer location.

Also, I did want to factor in non-cash items to get my true ROI figure and had a couple of questions below: Depreciation - the only use for depreciation here is improvement costs at 27.5 years per year depreciated, then taking 50% of that?

Would you split the total cost up as separate 5-year property depreciation line items on each of your Schedule E's?

Also, anything working and reusable like appliances, ceiling fans, cabinets, sinks, doors, etc can be set aside and once you have it out Habitat for Humanity will send a truck and pick it up for you as long as you have big items and a local store.