Any capital improvements, to the building itself, will be added to the cost basis (purchase price) of the property, as well as any expenses attributable to the purchase, as indicated by @ColeenD3. Improvements are expenses that add value to the property and are part of the structure such as new floors, a roof, a remodel, etc.
Furniture and fixtures, including linens (anything with a more than one year life expectancy) will be a separate asset, but will be placed in service at the same time the property is available for rent so there is no loss to your expense.
You will not lose anything by not claiming it until 2021 since it was not yet available for rent until 2021. The date placed in service is critical to the year you are allowed to take the expenses.
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