No. You will report this purchase as the purchase of a 2nd home on your 2016 return. You'll only be able to claim some closing costs, mortgage interest and property taxes for 2016. But when you file your 2017 return next year, there's a lot of potential deductions that will "kick in" when you show it's conversion from personal use to rental property.
It's important that you keep the HUD-1 closing statement you got at the closing, along with all the other paperwork. It will be needed. Also, if you did anything that qualifies as a property improvement in 2016, you'll not be reporting it until you do your 2017 taxes - assuming of course you actually get a renter in the property this year. So save ALL receipts.
Also, print this out to keep with your paperwork, as you will find it very useful next year.
