@Khang NguyenAll of the renovations you performed prior to putting your property into service should be capitalized .... it matters not that the property was in-service under the prior owner, you took vacant possession and renovated prior to returning it to service.Additionally, much/most of the work performed during a substantial renovation is considered a capital expenditure, not an expense.

You can take possession immediately if the property is abandoned.

If you're handed the keys to the landlord then you've legally transferred possession.

I once bought a house that was "possessed by demons." 

@Josh Fernandez It's not what you do after the sale... the most important work (other than obtaining possession) is done before the sale.

I think you should first have the property in your possession before you can do that. 

The mortgage guy said we could close before the bank takes possession but I don't know if rehab loans take longer to approve.

view=part&hea...If you want a more visual version, go to the Minnesota Landlords and Tenants Rights and Responsibilities here: https://www.ag.state.mn.us/Brochures/pubLandlordTe... 504B.271 indicates you (landlord) will take possession of the items and must store and care for them for 28 days after notice of abandonment (when they tell you they're gone).

The Tenant   The suit is seeking possession of the property. 

Now, this is for the squatter who takes up occupancy in a property while the owner is away or not on site - it is not intended to remove those occupants who have had possession given to them as a tenant.Since it sounds as if the occupants in question had been given possession, the previous owner should have some sort of lease that states the terms.