What you asked is not just part of the taxes; it's part of the financial operations. I recommend getting a CPA to be your mentor on the financial management all year so that it is not a mess when the year is over.
The purchase of the property and nearly all costs incurred, including interest, are related to the property and not Cost until the property is sold. Anything on hand over a year end is an Accrued Cost as Asset and only Sales in that same year are cleared out of the asset account to be Cost of Goods Sold. That allows them to compare Income from Sales against the costs, to see Profit on these sales.
It isn't clear why someone made this entity an S Corp. Make sure to follow all requirements; that includes Payroll for the shareholder-employee.
"Level Up" is a gaming function, not a real life function.