I am looking to convert that into full time rental property and also I want to void paying the Capital Gains Tax (500K for Married filing jointly), I have considerable equity in the home, I don't want to sell the property to others now and want to hold it for few more years.From the Article below by @Brandon Hall, I see that I can sell this SFH to an LLC I own.

Consider Joint Ventures, You lend your credit profile and operations experience if needed, in exchange you get a fee + % of profit over a certain amount.

I provide one when I work with someone on a Joint Venture.

Or if you run into a wholesaler while do that you could always JV or joint venture with them assuming that they have buyers.

Personally I only look at aviation stuff on U tube .. and that's rarely.. and don't use snap whatever that is insta grammer and or tweeting.. none of that for me.. just e mail  scanner  printer that's all in need to take care of my business needs.. :)  I did like facebook though to catch up on old high school friends and i enjoy when my kids and grand-kids post pictures of them on trips etc..

If it's a standard Lakewood up/down duplex it probably has a plaster ceiling under the ceiling tile-- at least all the ones I visited when my son was apartment hunting were plaster.IMO, the "nicest" fix (assuming the old plaster is in poor condition) is to scrape off the acoustic  tiles and then drywall over the old plaster with a smooth finish; the cheapest fix, if the only problem is the one tile you pictured, will be to screw up the tile(s) that is/are lose, cover the screw with a little joint compound and then primer and paint the ceiling; If you are lucky the tiles have already been painted before.

If u buy a thinner Lvt u need to loctite the but seams together or they will unclick.

We’d both purchase through our LLC 50% each.Thinking use a joint account between us to collect rents and hold funds for repairs and cap ex funds etcAny thoughts on how to structure?

These included under sinks, inside electrical boxes, plumbing joints, insulation, roof shingles, broken window seals, the whole nine yards.IF, you trust they’re doing a thourough job and charging $100 or less, MAYBE I would keep using them.

Typically when one tenant in a joint tenancy situation moves out, the deposit stays with the property and continues to be held by the landlord in trust in case there are any damages or money owed when the property is ultimately returned.