I am a new investor in Minnesota. I have two properties and I have poured about 40k total into them in 2017. I have also acquired them over the past 12 months and they are both traditionally mortgaged. About 20k is maintenance and 20k is CapEx. Can I write this all off on my taxes this year (2017)?
Have you placed them into service yet (i.e., have you offered them yet for rent to prospective tenants)?
With one I have, with the second I plan to do airbnb, this will start before the end of 2017. The house in which I plan to do airbnb is where I have put the most money.