Laminate flooring in main areas with carpet in the bedrooms. 4 bedroom, 2 full baths, and the basement will have a full bath roughed in as well as a wet bar rough in. 1 egress window in the basement for a future bedroom.

Repairs made while the property is your primary residence are not deductible, but improvements can increase your cost basis, reducing future capital gains tax when you sell.

I'm very bullish on its future for real estate.

Remodel while the property is still in your name to increase its basis, which can reduce future capital gains taxes, and take advantage of the capital gains tax exclusion if you sell within three years (up to $250K for single filers or $500K for married couples).

This has the obvious weakness of the unknown nature of future cap rates, but that's really the heart of your question here.Estimating future cap rate is part art, part science. 

But my suggestion for future listings.Look at days on market in the area that you are going to list.

In MN it feels like NJ and NY has long bought up every section of decent future developable land.

Find a reliable team, offer fair pay, and keep them motivated to stick with you for future projects.That’s what I have off the top of my head.

I am convinced that these markets are the hidden gold mine in RE investing today. 

Taxes on the original gains are deferred until December 31, 2026, and future gains from the OZ property can be tax-free if held for 10+ years.