It depends... I'd never cut into one that hadn't been open for some time with the valves removed
Propane doesn't stay in the tank very long as it volatilizes when its not under pressure. In the tank, closed up its under pressure and stays in liquid form. It is heavier than air though and can "hover" in the tank for a while and on the ground as well.
The smell is from Mercaptan,(methanethiol) the same stuff you smell in your flatulance or in swamp gas...It is relatively harmless in the amounts found in propane and is added to it to actually give propane a smell. After time it does find itself separating from the propane and has an oily residue...which can remain in the tanks after the propane is gone.
I fill mine up and "wash" them out with a little dish soap added to the water. The filling of the tank with water will force any suspected residual amount of propane out. If any doubts remain, it can be flushed again of course. The oil residue may still be left behind and it can smell still. This doesn't mean propane is left.
I use a plasma to cut mine. Of course, I do not mean to give this as a primer for cutting a tank...Do so at your own risk.:laughing::thumbsup:
Be careful to mind the overheating of the tank when you cut or you can warp it. It'll probably spring out of shape a little anyway...depending upon the heat used (plasma is best). Using a O/A setup can put a lot of heat into it...At best most tanks will be a 1/4" thick, so a small plasma can be used. Some people use reciprocating saws because of the fear of gas or an abrasive...None of which make it much safer, in my opinion. It only makes it louder, and slower.
It's always a "fun" experience though when you do cut into a tank...Don't breath the fumes. Cut it out in the open. Not so much, mind you from what is on the inside of the tank, but what is painted on the outside.
The REAL chanllenge is making a square cut on a round cylinder...Need a little geometry refresher course for that.
With all that said, if doubt remains, it might be a good idea to go out and buy some "depends" and employ the use of them when you make your first cut...Of course if something happens, you won't have much time to make use of them.
Here's a little "factual" info that can help allay some fears.,,and create some others....
Propane Safety Tips - Exceptional Energy