from IRS PUB 527
Vacant rental property. If you hold property for rental purposes, you may be able to deduct your ordinary and
necessary expenses (including depreciation) for managing, conserving, or maintaining the property while the
property is vacant. However, you can’t deduct any loss of rental income for the period the property is vacant.
https://www.irs.gov/pub/irs-pdf/p527.pdf
Note that the value of your work and labor cannot be added to tax basis.
