Any work you do to get the property ready for renting is classed by IRD as capital improvement, and is not fully deductible. You have to add the costs to the original purchase price, and depreciate the total (purchase price + improvement cost) [separate land value ,land is not depreciated]over the life of the property (from the date placed in service (ready to rent)
The dwelling is 192 sq ft Property Tax Value as a percentage in relation to your primary.[less the home office area ] LOL sharpen you pencil. That percentage can be used for utilities if no separate meter.
Furniture,appliances used in rental property
5 years depreciation, spreading the initiate cost at start and then as you have rental income; you will be in a better position to expense replacement under the new election that is available..
The county tax assessor going to love you, they will probably give you a good basis as soon as they reassessment of the area.
Good luck
Landlords's handbook.
Publication 527, Residential Rental Property
https://www.irs.gov/publications/p527/
Rental Property Income and Expenses
https://ttlc.intuit.com/replies/3288530
