Then get a lien waiver from the general contractor when all work has been completed?  

If the property qualifies as a separate activity, you may be eligible to claim bonus depreciation through a cost segregation study, which can provide substantial upfront deductions — particularly beneficial if you are in a higher tax bracket.However, if your income level is lower, the cost of the study may outweigh the benefit.

Since you’ve got a few properties under different setups, an umbrella policy can act as a safety net if something major happens, like a big liability claim that goes beyond your normal insurance limits.

It sounds odd coming from a caveat emptor state but apparently in CA where the property is, it actually is required to disclose past repairs even if they are complete.

Quote from @Andrew Born: Unless the property was completely destroyed, you won’t receive the full coverage limit.

However, Even though the property is in service in 2025, you could still do a cost segregation study in 2026 and make a Section 481(a) adjustment to catch up missed depreciation......Anthony,as a tax professional, I'm confirming what Brian said.You will need to use the procedure he mentioned which involves completing Form 3115, as opposed to filing an amended return for 2025.

I've been able to help a few get theirs completed. 

Extracting the complete investment amount requires a significant adding of value.  

Many times they will claim it's wonderful and then try to hide their worst deals by only showing completed deals.

He claimed his company could offer me a better deal than my usual lender.