Tax question regarding receipt filing and record keeping best practices

[Justin C.]

Hi BP,  I have 2 rentals that were acquired over the last 6 months... Property #1 closed Dec 2014 and was officially on the market May 1st 2015.  My tenant just moved in.  Property #2 closed mid Feb 2015 and should be on the market Aug 1 2015.  Both have gone through extensive renovations.  My questions are regarding classification of expenses.  I know I need a CPA... its on my list.

Schedule E has a list of expenses... Advertising, cleaning and maint, insurance, legal, repairs, supplies, etc... 

1) Because property #1 wasn't "on market" during the renovation, does everything apply to the basis?  We replaced hot water tank, walls, doors, vanities, fixtures, etc... 

1b) Do I need to break down my pre-market expenses into the Schedule E categories or can I leave them in bulk under "supplies" and "services" like I currently have them?

2) Now that its "on market" I will start detailing my expenses per the Schedule E categories.  If I go to Home Depot and spend $500 on a new bathtub, a door, paper-towels, a new screwdriver set, windex, and valve stems for a faucet; would I break these down into supplies, cleaning and maintenance, and repair with separate entries?

I am using a simple excel spreadsheet that mimics the Schedule E.

Hope this makes sense.  I'm just trying to get my paperwork organized.  

Thanks in advance