Placing an STR property 'in service' for depreciation

[Alan Taylor]

We're closing on a property in South Western North Carolina this coming week -- and we're trying to get the property ready to 'go live' as soon as we can.   We also wanted to be able to take advantage of the 'bonus depreciation' -- and while reading through the IRS regulations on this, for real estate, it looks like 'placing in in service' has a varying definition. 

What would be required for an STR property to be 'placed in service', for tax reasons?

[Josh Myrick]

Im not a CPA but am a property manager of a few STRs and never heard of putting it in service. I can recommend you to my CPA and maybe he can answer this question.

[Michael Plaks]

@Alan Taylor

The same exact question was answered here, with important caveats mentioned: https://www.biggerpockets.com/...

[Basit Siddiqi]

The property should be in livable condition(at the very minimum, a working bathroom and kitchen).

the property should also be marketed for rent.

best of luck