Can I include a house we renovated in 2018 and had ready to rent in December, but didn't get rented, so there was no income, as an asset and write off it's expenses?

[Vanessa · Accepted solution]

Yes, you can deduct expenses getting the property ready from the time you made it available for rent and list it as an asset. 

"Pre-rental expenses.

You can deduct your ordinary and necessary expenses for managing, conserving, or maintaining rental property from the time you make it available for rent."....."If you hold property for rental purposes, you may be able to deduct your ordinary and necessary expenses (including depreciation) for managing, conserving, or maintaining the property while the property is vacant..."

https://www.irs.gov/publications/p527#en_US_2018_publink1000219000