And then figure out how to depreciate that cost alongside the building itself with my accountant later in the year?

I need to crank things up this year and would love to work alongside another experienced flipper.

Newer investors who come to learn start to believe the repeated “You don’t need to pay for education, you can learn anything you want right here on BiggerPockets by just reading in the forums and by listening to the podcasts.” and although listening to the podcasts and reading in the forums can be great, it doesn’t take the place of a real education from from someone truly experienced or by working alongside someone who is actively doing the things you want to learn. 

I would also look into reaching out to a handyman/contractor and asking if you can work alongside them/their workers.

An additional hiccup in the project is that we are currently in breach and at risk of losing $50k in earnest money because the first bank waited until the last minute and we passed our original closing date. 

They have no fiduciary duty to either party and are basically a paper pusher to make sure all the right forms get signed and theres no hiccups in the deal.

@Yonah Weiss i will say that if i bring a deal i won't take less than 10%... if I'm liquid i will invest alongside the partners...

You could put 50k-100k in alongside your LPs, and still have money left (maybe for risk capital, or another deal).

Is it fine to be working alongside the contractor in the home?

The language you supplied addresses that where it says “First...”If the sponsor is investing cash in the deal alongside the investor, they would participate in this tier on a pro-rata basis, however.The provision beginning with “Second...” addresses what happens to any remaining distributable cash after the first tier has been satisfied.The only confusing thing to note here is that “members” is not capitalized in the second provision.