I’m currently looking at two parcels of land in Miami Beach that are very unique. They both have approved plans to build mansions including a pool, they’re water front and sit facing Biscayne Bay and the city of Miami...

Does anyone have any ideas of the best way to tackle this issue?

The risk profile of a value-add industrial deal of any size makes tackling it with a pool of individual investor money really tough in most markets. 

If you don't have any experience I wouldn't tackle this as my first project.

In many of those we tackle the fridge & stove is a big problem, so I attempt to recess them.Sanding finishing etc cabinets is OK if the layout is conducive to what you want.

Few suggestions:Make sure you have a scope of what you want to be done in the house before you bring GCs on siteTry to have a longer inspection period (14 days, or more) you will need it to have time get GCs and your scope.These days on a new listing 14 days inspection period is VERY long - maybe try to tackle houses sitting on the market longer.Hire a project manager and/or a designer to work with you - unless you carry that ability or doing a lower-end home. 

We wanted to try our hand at a really big project and this was a great opportunity to prove to ourselves that we could tackle almost anything!

With my previous construction and heavy equipment experience, and the experience I'm currently gaining as an architect, I think I'd be well setup to tackle a flip or 2.

Deferred maintenance issues will come up when you first get properties occupied, but they will subside as issues are tackled.

I think friends grouping up and tackling new tasks/projects in a mutually beneficial way is incredible and should be strived for.