Can I write off expenses while scouting for rental properties?

Expenses related to scouting for rental properties, such as travel, meals, and lodging, are considered personal expenses and are not deductible. However, once you acquire the property and it is placed in service, you may capitalize these costs as part of the property's basis. This means they can be depreciated over time along with the property. For example, if you travel to another city to look at potential rental properties but do not purchase any, those travel expenses are not deductible. If you eventually purchase a property, the costs associated with acquiring it, such as inspection fees or legal costs, may be added to the property's basis.