@sashagm30
You will not enter anything until you sell the property. Make sure you keep excellent records especially of travel and food. Initial costs to find the property, etc. Are you financing the property?
You can deduct the property taxes and interest expense if you are itemizing your deductions on your tax return though. you can classify the interest expense if with a mortgage as mortgage interest.
If it's not backed as a mortgage, you can classify it as investment interest expense as you certainly are using it to finance the purchase of an investment asset.
Next year you will enter it as the sale of an investment.
Good luck with your investment.
All the best.
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