For the out of state, non professional newbie, turn key can be a far less risker proposition than finding and renovating a property remotely when they don't have to time, resources, experience and connections it takes to do it.

Keep in mind the market will cool, when it does you want to be as well positioned professionally as possible.

I am a stickler on professionalism to keep our business as investors (wholesalers, flippers, landlords, etc) having a good reputation or else we will end up where homeowners will run like we are the plague when they see us coming, which many already do.  

The big players definitely BRRRR...they just do it on a 250 unit community and have professional management handle it rather than doing it on 250 individual homes. 

Yesterday he went to inspect the repairs and they were not completed or were done by an unlicensed professional.

Great being able to connect with other Real Estate Professionals within my greater Tampa Bay Area, and also around the country!

The authority of a tax professional would be valued over a real estate agent like myself. 

NHREIA meets the 2nd Wed of the month, NewEnglandREIA meets the first Wed, and NH RE Investor Mastermind can be found on Meetup and sometimes here on the events page, and meets in Nashua.   

Most likely you can form the LLC after getting the property under contract, but again, consult your professionals in that area (realtor, attorney, lender). 

Couple that with the fact that you're getting hit with recapture when you sell whether you take the depreciation or not and it should be clear that you should take it.Alternatively you could not take it and file Form 3115 in the future to catch up on missed depreciation, but that'll cost you a pretty penny to have a professional fill it out for you and likely not be worth the difference from jumping a bracket unless it's a high value property and you'd pair that with accelerated depreciation which doesn't seem to be the case here.