How to deduct earthquake retrofit expenses for my rental property in California?

[jacktaxmoney]

I plan to hire a licensed contractor to do earthquake retrofit (bolt the house to the foundation) on my rental property which is at risk of falling off its foundation in a major quake. 

The cost will be $20-30k which is more than all the rents I get in a year. 

Is that possible to deduct that over many years?  Does anything change if I take a loan to do this work?

[Bsch4477]

Yes, it is a capital expense which would be depreciated over time. Any interest paid on the loan to do the work is a business expense.