Tax Topic 415 on the IRS website irs.gov provides the details and exceptions. Generally, yes, you can deduct all of the expenses of maintaining the vacation rental property. However, there are exceptions based on your personal use of the property - if you use it personally for more than 14 days a year or for more than 10% of the time you rent it there are some additional restrictions that apply to how much you can deduct. Your question did not indicate how much personal use you anticipated so I will not address the specifics,
