I'd be grateful for any guidance here as to different avenues we can take to try to minimize this expense.A couple other items that may be important:- The property is 60s Vintage -The electrical panels and wiring has all been upgraded- C Neighborhood Look forward to hearing from some of you!

The whole house was updated and modernized.

Anyone under the Pillar To Post franchise is likely to be able to test each of these items, so I'd recommend calling your local P2P inspector.

I encourage you to consider who your tenant pool will be and try to understand if they will be open to sharing the space with so many others.You will also want to consider hiring a very thorough cleaner/team member with boots on the ground to ensure that items are in their proper storage, and broken items replaced—7 tenants in a furnished rental will get messy, so you will want someone to help you manage the logistics. 

Gifts are normally part of itemized deductions of the GIFTER. 

He Provides a hard quote with line item expenses.

The worst example of this was a guy bought a house in a 55+ neighborhood and was fixing it up like he saw on HGTV, super modern finishes, all carpet in every room (older folks don't like carpet) and finally I asked him why he would do all this for a 55+ home and he didn't even know it was 55+!

For the third item, are you going to command a lot more with central AC in MA? 

I know that you can elect to expense certain items rather than do depreciation, there is accelerated depreciation, which they will start phasing out next year, but gross income and expenses will eventually show a profit if you keep operating it well. 

I would switch out the vanity because it doesn't go with the rest of the room, paint, and put up the shower curtains and other decorating items.