Just costs incurred for the property being put into use but able to be separated out to a shorter 5/7 year life which means 100% bonus depreciation and full write off in year 1. 

Understand that there could also be bonus depreciation but putting that aside for now, just want to make sure I'm thinking about this the right way.If it's not obvious, the goal is to give investing in real estate/rentals a try, and if we don't enjoy doing it, worst case we end up with a vacation home with a lot of improvements completed that we were able to deduct.Thanks in advance.

Think sign on bonuses, cash back deal, 0% transfer cards; and if you pay them off on time you never pay a single cent in interest.

But this bonus commission was only valid above a certain price point.

There was a bonus room in the basement that I envisioned could be converted into a 4th legal bedroom, increasing the value of the home. 

The cushion is either their bonus for being good at estimating and getting the work done fast or their loss for missing things on the walk around.

For accredited investor certification, there are rather cost effective options as low as $60, but bonus if the CPA can do it.Technology and Communication: A technologically adept CPA can streamline processes and provide you with access to digital records and reports.

My friend stands to receive a nice bonus check. 

If it's a Qualified Leasehold Improvement, you can maybe take 80% bonus depreciation now (goes down to 60% in 2024).

More than likely that is tax free income early on given cost segregation, bonus/accelerated depreciation, etc.