Thanks for the response.
Regarding the improvements. My thoughts are the provide enough personal equity to purchase the property but then if there are improvements (painting, carpet etc. ) I would rather expense them.
My reason is that I want to have enough expenses to offset the income I will receive for the year from renting the property. Thus keeping the profit / tax low at the end of the year.
Anything wrong with this approach ? Any better suggestions to keep of year tax low ?
Nope, that is fine. Expenses are different than improvements though. Expenses should be written off each year against income. But for example if you put on a room addition, that is an improvement. New carpet is an expense.