You are entitled to deductions for expenses related to conserving and maintaining the property after the date it was converted to a rental property even though it is not yet rented.
The property is converted to a rental property on the date that it is made available and advertised for rent. For you, that might mean the date that you signed the property management contract. This means that the cost of your renovations need to be added to the basis of the property (for depreciation) if they were done prior to the date you signed the contract.
When you go through TurboTax to enter your Rental Income and Expenses, be sure to check the boxes that you converted your residence to a rental property and that this is the first year it was rented (if it was the first year). Then, you will be asked a series of questions that will set up the depreciation for the property itself based on your purchase price, the fair market value when it was converted, and other factors. You will be asked about any increases to the basis as you go through this series of questions. That is where you will enter the cost of the renovations.
If the renovations were completed after you signed the contract with the management company, then they need to be entered as an Asset for depreciation on their own instead of adding to the basis. You would not deduct renovations as a repair expense.
Without seeing your return, there is no way to know why your deduction is $150. Take a look at the following TurboTax help article to learn more about what kind of expenses you can deduct when you own a rental property:
What kinds of rental property expenses can I deduct?
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