Yes, you can deduct HOA fees if your home purchased is strictly rental property. In addition, you may add things like Title Fees, Appraisal Fees, to the basis of your house. Please read Pub 530 for fees that can increase your basis of your property.
You mention loan fees and these cannot be added to the basis can be a deductible expense. Also things like real estate taxes, mortgage interest, property insurance that are listed on the settlement statement are deductible expenses for your rental property.
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