Held out for rental means it was available for rent and you were trying to rent it. The same applies if you were trying to sell it. It must have been held out for rental to be deductible.
Vacant while listed for sale. If you sell property you held for rental purposes, you can deduct the ordinary and necessary expenses for managing, conserving, or maintaining the property until it is sold. If the property is not held out and available for rent while listed for sale, the expenses are not deductible rental expenses.
