These are professionals with additional training and a stricter code of ethics.

You probably want to make sure it is up to code, ie. firewall , etc...check for permits pulled. 

Its just a matter of communicating your idea to a programmer, and their ability to code it.

We're working the tried and true absentee owner market, along with code violation.

If the tenant complains about the unit not being up to code and it isn’t, the case could be completely thrown out.

The California State Assembly recently enacted legislation that added new sections to the California Revenue and Taxation Code (New R&TC Sections 18032, 24953 added by AB 92).

While you're quoting IRS code, why not help answer the OP's question?

All new fixtures. 5000 Replace improper basement ductwork 3225 A/C coil and condenser 3200 Stairway into basement - bring up to code 2250 Washer/Gas Dryer (stacked) 1800 Paint throughout 1500 Transfer taxes 1200 New carpet - stairs and both bedrooms 1000 Gas water heater 800 new fridge 800 Exterior paint 800 Demo/creation of fridge location 725 Replace wood rot along roof line and cap with metal 700 Roof coating 700 new gas stove 600 Trim repair, doors for both closets, door for 2nd bedroom 500 Window blinds throughout 300 Minor siding repair - rear 200 New screens 150 Total costs 34200 Offer ALL CASH 21799

I am concerned about the costs of repairs for safety code compliance to make it a rental as well as depreciation.

There's actually some specific provisions in the code for how to handle it.