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You do need to record the rental income even if you are renting at a loss.

The losses will be carried over until the property is sold or you start showing a profit on the rental.

Has the property appreciated since she bought it and Feb 2013 when she moved out? may help with establishing if it has appreciated. I am not certain if they estimates for condos. Their estimates are only estimates, but a reasonable place to start. It may also give you the purchase price, the date of purchase, and recent sales in the area.
If the property has appreciated then the purchase price is used for the depreciation schedule. If the property has lost value, then you need to work on establishing the cost basis for when it became a rental.
Land is not depreciated. Since this is a condo, the land portion of the value may be low.

Have you considered getting professional help for the first year?
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