Expenses incurred by the new property owner(s) (does not include your spouse if they are not on the deed) are deductible; but only up to a point. So any expenses incurred for other family members such as the kids are not deductible. This means you may have to pro-rate "all" of your allowed travel and lodging expenses.
So that portion of travel and lodging expenses incurred by the buyer(s) are deductible up to the date of the closing on the sale/purchase. All expenses incurred after that date are not deductible at all. Not one penny. Not even the travel costs of the purchaser(s) for the return trip, since the cost of returning was from a vacation, and not immediately after the sale. Also note that the cost of meals is not deduction at all. Not one penny.
In the end, your "allowed" expenses are not a deduction. Instead they are added to the cost basis of the property.
Now, as to where you report this on your tax return depends on exactly what kind of investment this is.
For example, if it's just a "buy and hold" property then you have nothing to report on any tax return until the tax year you actually sell or otherwise dispose of the property.
If your intention is to rent the property out then the acquisition of the property would be reported on SCH E in the first year you actually rent it out. But then again if you intend to do short term rentals through a service such as AirB&B, then it "could" be a SCH C business.
Then to add to this complication if either your resident state and/or the state where the property is located taxes personal income, that will double or even triple the paperwork and tax filing work you need to do; thus significantly increasing the probably of you doing something wrong, or doing something that would "raise flags" with a taxing authority resulting in an audit.
Overall, I would highly suggest you seek professional help on this for at least the first year. Doing things wrong can be quite costly in the ways of audit expenses, back taxes, late fees, interest, penalties and fines. Those costs can make the cost of professional help seem like a pittance in comparison too.
