Before I complete a pending sale of the property, I would like to form a Wyoming single member LLC and place the property interest in the new LLC.

The most common one is that when we get a new lease signed we are not getting the rent roll populated. 

@Ken Breeze I am a new member of Bigger Pockets!

Having worked in and around real estate including loan side for both residential and smaller specialized commercial (medical), renovation and new construction/new build with a broker & brokerage founder (who has since retired) I know from him that in addition to reputable property managers, contractors and architects we had accountants including a forensic accountant on the loan side and a handful of real estate attorneys with one on retainer.

Investment Info:

Single-family residence other investment.

1850 sq foot SFR built for investor. This home is 3/2 with hardy exterior, barrel brick ceiling entryway, spacious floorplan, vaulted living room, ...

As a side note for education expense, you may deduct education that maintains or improves your current job skills or that is required by law or your employer - as long as the education does not qualify you for a new business. 

Biggest risk is the complaints from neighbors about the noise, although I've heard that there are new paddles that dampen the noise quite a bit? 

I've found that targeting single family cosmetic renovations (anything in front of walls) makes things as simple and smooth as possible. 

I’m also in STL and may be able to help recommend a new painter if ever needed.  

You need to watch out for point of sale, lead paint requirements, and Cleveland's new investor requirements.