There are a lot of options out there.Some of the most useful items BiggerPockets members have identified are features that save time so they can spend time working on their next property.

Of course you can get discounts for having certain items FULLY updated, like plumbing.  

Paying off the notes, working to pre-emptively make repairs to capex items before they fail or become a major issue think roof, HVAC, and foundation.

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or, do you cash flow only after you've set aside money for capex and other items? 

I was the seller doing a 1031x and it lowered the net sale.I didn’t realize the closing statement items were handled a different way and not included on the SchE.

The itemized damage estimate that my insurance provided me lists an Actual Cash Value that is 15% higher than my Dwelling A Coverage. 

By making partial dispositions, you can also avoid subsequent recapture on these items when you go to sell.

Regarding next steps, I agree that the best way to approach this would be to have one person act as boots on the ground and the other person handle the back office related items.

-Why not include a contingency line item in your construction loan rather than raise the contingency funds from your equity partners?