Depreciation for an investment property

[Pradeepan V.]

Hi

I am purchasing a property in NY as an investment property in the name of my LLC for $265k( 1930 construction date). I am putting 20% down and rest as mortgage loan for 30 yrs.

Questions

1. I have a total of $10k in closing costs - I believe as an investment property(in the name of my LLC) I can claim all these amounts and deductible over life of loan i.e 30 yrs so 10,000/30 = $333/year - Is that correct?

2. Are there any closing cost that I can claim full in the current year? 

3. Are there any closing cost that I cannot claim at all?

4. Depreciation- I am planning to do any improvements on this property and will be rented out day 1 of the sale. Can I still claim depreciation on this property? If yes what amounts can I claim over 27.5 yrs - Is it $265k ( i.e the purchase price) or the 20% down?