Was the property available to be rented in 2023? If not, depreciation for the new assets would not begin until you list the property for rent (in service date). The cost of repairs and improvements until that date would increase your basis in the property but not be eligible for depreciation nor expense deductions. To qualify as a rental property (compared to an investment), the residence must have been listed as available to be rented (even if there was no tenant).
In general, spreading the cost of an asset over several years (depreciating) is a good choice if you expect to have income during those years. But if you have enough income in the year the asset is purchased, expensing the full asset cost (if allowed) will reduce the taxable income for that year.
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