Since you're not working, you may qualify for REPS, but you need to meet the750-hour requirement and materially participate in your properties.The $300k withdrawal will be taxed as ordinary income, so using cost segregation to create depreciation losses could help reduce your taxable income.

Updating the interior is costing me $63,000 for demo, installation, and materials.

flipping is very tough right now - materials are expensive, good contractors are booked up, interest rates are high, buyers are picky. 

If not, do you materially participate in the syndication or are you simply a limited partner?

I own a GC company and have guys with plenty of ground up/new construction experience so I'd save labor and material costs.

If you mount the new beam below the ceiling $1500 material labor...if you put it up into the floor joists above $2500-3000 (meaning so you can't see the new beam once the ceiling on the drywall is repaired)  Figure another $65-70 per sheet of drywall needed for repairs. 

I only have one unit that I hope I will continue to retain a tenant long term.

I have tried Direct Mail before and received about two calls back and spent about $400 on materials.

It’s also not as cost effective to just upgrade one unit when it’s vacant because then you lose economies of scale and in the instance of materials things may not be available over an extended period of time and you may end up with mismatched windows or something.

The fortunate part is that I did 90% of the work so actual cost was only material and alot of my time.