Normally you would depreciate anything that is expected to last more than 1 year.
There are options to take a 179 deduction where you can "depreciate" the entire cost in the year you purchase items that are under a certain cost. The program will make you aware of that.
Yes, painting is an expense. You can deduct the cost of the paint, but nothing for your own labor, only labor you contract.
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HERE for IRS depreciation information
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HERE for IRS rental income and expenses
