Ok, so ideally this should go 1 of 2 ways from what I understand from @Critter 's comment.
Either my step father should put the deed to the property in my name which will simplify everything. I can then fill out the taxes as the owner of the property, utilize the remodel expenses against the income from it and take the depreciation on the property all in the Sch E area.
OR
My step father should report the property as he normally does, claim the income, claim the expenses which would include the remodel expenses PLUS my "salary" as a rental agent which would be equal to the income from the property, and he would also take the depreciation on the property. THEN I would file my income from my rental agent salary under the Self Employment section at turbo tax which is the Sch C area. I could then input expenses on that income such as trash pickup, yard maintenance which I pay for out of the income on that property. Does that sound correct? I really never though of it in this way but it does make sense to me now that you brought it up in this way.
