yes, they're depreciable but there are caveats. are you or will you be subject to the passive activity loss limitations. this could result in no current benefit from the business depreciation deduction. what is the status of the part of the property not being rented - personal use? this would result in a portion of the cost of the equipment being personal and therefore nondeductible/non-depreciable. how long will you hold on to this equipment? if you sell the business portion would be subject to depreciation recapture and any loss on the personal portion not being deductible.
there might be some advantages to hiring someone. if there is personal use of the property the personal portion of the cost would be added to the basis. the business portion would likely be capital in nature but be depreciable. again the PAL rules may come into play to limit the benefit.
also consider that if you buy the equipment, you may want insurance to cover loss, liability, etc. the value of your labor is neither deductible nor adds to the basis.
