I have expierence in new construction, that's not a problem.Here is elaboration on the last 2 items:2.

Here's a https://www.irs.gov/businesses/cost-segregation-audit-technique-guide-chapter-4-principal-elements-of-a-quality-cost-segregation-study-and-report to the IRS website noting specific items that are included in the cost segregation study report. hmm, that website is a 404 error.  

The only item I would suggest is double check the payment terms of the your HELOC... in particular, can you pay interest only or are you required to pay a portion of principle each month on the amount utilized.

The PM should provide itemized items of what was done.

I think you will definitely want to talk to your lawyer because there may be items linked to this transaction you are not considering. 

The other business I run is reselling, listing items on eBay & FB.

Also, how old are your capex items? 

In general, I would say Kitchen, Bathrooms and any deferred maintenance should be your focused items. 

Roads, water, sewer, gas, electric, etc..I'm also here for any discussion on any other items that might be of note, trying to learn as much as possible on this front.

A PMC is great to use not only for all these items but also really being a trusted source for vendors too etc.