1. I would use the date the home was finished and built. It was not actually a home prior to that point. Upon completion, it was switched to a mortgage so that seems like a good beginning point. You can show the mortgage on the home and the date, easy paperwork and proof.
2. When you put a home into rental use, you depreciate it based on the lower of your basis or Fair Market Value.
References:
Real Estate Tax Center| IRS
Rental Real Estate and Taxes| Turbo Tax
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