Ottawa Real Estate Investors Organization

Hi.

Can anyone help me answer the following question (or recommend a good tax accountant that can)?

I bought a house in October intending to do some very minor repairs and find a tenant for November 1st. However, I subsequently found a serious defect in the building that needed to be corrected before it could possibly be rented. My question is how much of my expenses are going to be tax deductible for 2009? I have incurred charges related to diagnosing the problem, correcting it, holding costs, legal fees, etc. In the CRA guide t-7046 they make distinctions between soft costs, capital costs, current costs. Where does my situation fit in - given that the costs were unexpected but necessary to make it suitable to rent?

Thanks very much.