I had an advertising agreement on file with them for the last 2 years.

We may file small claims as it’s only $20 to file plus having someone deliver the paperwork to the tenant.

So while they take their management fees, their incentive to produce is nowhere near what I would like. 

I don't know.So for $56,000 dollars down plus (an estimated) $7,500 in closing costs plus another $5000 in furnishings, you get an asset that produces about $500 dollars a month. $68,500 / $500 per month = about 12.4 years to get back the intial investment.  

On the other hand, you build wealth by having income producing assets.

You CANNOt file a 7-Day, Demand for Rent. --- If you close on the property in November and immediately send the 30-Day, you LEGALLY have to wait until January 1 to file a landlord-tenant case to regain possession is the tenants have not vacated.4) Your rent losses will be November, December, January, February and probably March if the tenants choose not to pay and you have to evict.--- Make sure seller at least collects & prorates November rent to you!

I acquired it in 2022 so this is the first time I'm filing taxes on it.

File a Lien?

For reference we are not married and file separately.

They may wish to keep their personal name private from the other investors, etc.One potential downside to investing in an LLC (and that I've seen has cause people to change their minds and switch) is that the tax filing deadline is a month earlier for LLCs versus individuals.