1. You have one asset acquired over time. The rental start date is one number for the whole unit.
2. Your basis is the amount paid for each plus improvements and expenses to prepare for rental.
3. The basis used for depreciation is the lower of fair market value or your basis.
See About Publication 527, Residential Rental Property ... - IRS
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
