How does net operating loss figure accounted?

[Jerry Rubinow]

As someone in the process of setting up a vacation rental, I'm trying to understand how net operating loss works with respect to whether or not the property is considered a "home".

Let's say I put $15K into the house replacing the windows with lead paint in them in order to get the house ready to rent. I rent the house for 4 months at $2K a month. For the sake of this example, let's say there are no other expenses.

If there is no personal use of the house, does the $15K get depreciated over (say) 15 years, and I have to take $1000 of expenses a year from it? Do I take $15K of expenses now and carry the $7K operating loss forward to the next year? Or is it up to me which one I do?

If there is enough personal use to classify the house as a "home", how does that change things? If the $15K is not depreciated, I'm pretty sure I can only take $8K as expenses and cannot carry the $7K forward - it goes poof. If it is a home, am i still allowed to depreciate the $15K and take $1000 of expenses this year?

What other considerations are there in the options here?

Note: I realize whatever expenses there are need to be split proportionally between the rental days and personal use days, but let's ignore that aspect for now. I also realize I can pay fair market value rent for personal use of the house to make it not personal use.