Future residents could essentially buy out their units and fund your build. 

If you want to hit the projected numbers or even outdo them, your property must stand out in location, view, management, and especially design.

To move forward, you might consider refinancing or looking into a home equity loan to buy out your ex’s share—if possible.

He went out there and told her that he would take care of it and the price would be reasonable.

I am a BDM, aspiring investor, and my wife is a realtor - so I help her out some as well. 

Put the profit towards a new Primary residence and ~$50k towards a rental property.2) Rent it out and eat the cash flow loss, hoping rents increase.

I plan to put two duplexes on the property but with this high appraisal is there a smarter thing to do to pull that money out of it or just use it for better collateral for the construction loan most banks will lend on the transfer price within a seasoning period. we face the same issues for land entitlement and development.

If you own the house together, the only options are for one party to buy out the other or sell the house.

Things to look out for/consider with renting to EDEN tenants, anything you'd absolutely avoid doing, any advice, etc.? 

TIAIf you have an electronic record (bank statement, credit card, accounting software, etc) of the transaction the IRS doesn't require you to keep receipts unless it's a cash (took real paper money out of your pocket) transaction for $75 or more.