What Is It?
In many countries, you are able to deduct the cost of purchasing and rehabbing a property on your income tax return.
Rather than claiming the entire deduction in the year you purchased the property, you are typically required to distribute it over the course of the property's useful life span.
In the United States, the useful life span of a real property is typically considered to be 27.5 years.
If you do not reside in the US, check your local tax laws for the applicable depreciation deduction rules.