Our family member is about to list it and I wanted to do a quick evaluation prior to them listing.

Issues:- Foundation issues as I mentioned before- Downspouts are lacking extensions- The water heater is older (around 17 years) and may be past its prime- The electrical panel cover is missing some screws- There are a couple outlets not secured to the walls correctly- There are missing GFCI outlets in the kitchen and bath- There is no insulation on the water pipes- There are not smoke detectors and CO2 detectors in all areas that they should be (it's recommended to have one in each bedroom and one on each floor which includes the basement)- The attic space could use some additional insulation- There are a few corner pieces of siding missing on the exterior- The grading around the home could use some adjustment- The gate part of the fence needs to be re-adjusted for alignment- The wood on the garage needs to be re-paintedIt looks like a lot, but most everything is small (other than the foundation and grading).  

I'm really exited to be a new member. I

If it's a fix and flip SFR or Multi Family, then the DSCR won't ever work, so you'll be relying on the global cash flow of the investors to support the payment, in which case you have to have a good case for that via personal cash flow of the investors, liquidity and/or additional assets to pledge as an abundance of caution.To the question about the LLC's financials on a new entity, for real estate it's a non issue as the asset is what is generating the cash flow to pay back the loan not a new 'business' in the traditional sense.

As is it now, I'm looking at a screen on my pc that tells me to sit tight, as soon as the webinar creator logs in I'll be re directed to the live room? 

Fast forward to today and realizing the amazing amount of time I spend DAILY not only coordinating projects (which if you can't stand, this is not a career for you) but what is maddening in when I'm simply the conduit to pass very minor bits of info between contractors and as we all know, screwing up on some seemingly minor piece of that info that for instance may seem very minor to myself and lets say the carpenter and electrician, BUT causes a MAJOR hang up for the plumber (and assuming you're pulling permits as I do, toss in an additional delay for the inspector to be re-scheduled and now this formerly minor point has just hung up a big part of a project for days, maybe longer. 

Would I be required to change the ownership if I didn't want to include the partner as a member? I

I would only charge a tenant if there was actual damages beyond normal wear and tear like crayon/drawings on the walls, holes, big scruffs, etc.Touching up the paint between tenants is normal but if the entire home needed to be re-painted including the ceilings as the OP had said I would consider that more than normal wear and tear, that is if the home had fresh or close to fresh paint when they moved in.

Otherwise the bids you receive will not be directly comparative as you will be relying on the individual contractors memory/interpretation of what you want. 

The depreciation does not necessarily have to be re-captures.  1031 Exchange allows deferral indefinitely...However, if you are going to include depreciation, then include CapEx into the expenses :)