The remodel and new air conditioning system need to be depreciated. Those made a difference in the value of the house.
IRS Pub 527 for Rental Property says:
Generally, an expense for repairing or maintaining your rental property may be deducted if you aren’t required to capitalize the expense. Improvements. You must capitalize any expense you pay to improve your rental property. An expense is for an improvement if it results in a betterment to your property, restores your property, or adapts your property to a new or different use. Table 1-1 shows examples of many improvements.
Since you are a new renter, let me give you some great links.
In addition, the the IRS also has an interactive tax assistant tool to help with determining expenses - IRS ITA for rental expenses.
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