Yes, you can use the safe harbor election to expense the water heater since it is less than $2,500 and you use it in your rental, in 2019.
The safe harbor election lets you deduct your items as expenses instead of depreciating them over the life of the item. Expenses typically reduce your income by a larger amount than depreciating as an asset over a number of months or years. This means you could get a bigger refund.
Additional information: What can I expense or depreciate with the business safe harbor election?
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