@Becky Hoffman If one member of the LLC does not care to have any claim to the property as you describe why can't the partner merely be removed from the LLC.

I believe any investing is a lot about you get what you give, but quick question- I’ve read and listened to a few podcasts where people claim they get fast cash flow once they invest in turnkey.

According to the brokerage and agent, these individuals either weren’t serious or claimed they didn’t realize the property was occupied, even though it was clearly stated in the listing.I’m not particularly concerned about the property’s condition or the eviction process, as I’ve already secured some level of cooperation and have basic access to the basement.

If you use Zelle that is probably only going to one of them, so the other person could claim they never received the deposit.

From my basic understanding it would make sense to change it to a rental and then do the remodel so I can claim depreciation on my cost, is this correct or not? 

ever make that kind of claim with any substantial amount of money and for any substantial amount of time.To think, I was actually starting to give you the benefit of the doubt...

I figured he can't claim as a primary residence as a renter even though that's been his only address for 3 years?

If you claim it as your personal residence, don't also go and try to claim bonus deprecation against it would be my rule of thumb 

We've owned this property for 15 years and only once had an issue with a tenant who claimed they weren't informed that it was oil and threatened to sue due to the added expense.

Insurance companies appreciate that evidence if a claim were to be made.