Updates of heating, adding cooling, and electrical.

I had the PM get in touch with the contractor and he addressed the "issues" fairly quickly. 

When market changes, even the most sophisticated sponsor could collapse.At the end of the day, it's better to become "active investors" where you know every single bit of your investment, your market, your realtor, your contractor, what's the actual repair cost, actual rent, appreciation and so on and so on.

I have a small residential interior design business serving home builders and residential contractors in Northern VA.

I would walk the property (if you can) with a trusted contractor, but get the opinion from several. 

Working with contractors can be extremely difficult as projects get delayed and there is poor communication(red flags were not present before project began).

There are three items required to make a successful partnership - Time, Experience, Capital.If you are a syndicator, you are likely expected to have time and experience.There is a lot that goes into being a competent syndicator - Proper communications, finding a good deal, communicating quarterly updates, networking with lenders, contractors, PM companies.You can gain experience by doing your own deals or working for someone who does(Ideally both).I personally think you should cement your experience before worrying about OPM.Best of luck

Electric is separate. 

Often electric baseboard is most cost effective.

Plus, you want to make sure you’re comfortable with the commute and potential tenant demand.Oh, and curious, have you started making connections in that market - lenders, contractors, agents, or perhaps other investors too?