Regardless of how busy I am I always put aside time to improve our practices and procedures and have garnered many lessons from others who have already experienced it.I've also seen my fair share of PM shaming on the site and people can be quick to jump on board. 

So much so that people bring me deals, my passion for it energize those around me to want to do deals, clean up their finances, improve their financial planner etc.

I think if you bulked up those columns and maybe added some railings across the front it would improve the appearance of the house by balancing out the roof a bit.

I might assume ~$5-10k of upfront capital improvements needed that would be primarily for upgrades to meet regulatory requirements for a daycare, plus about the same for cash reserves before the cash flows begin. 

While managing I was able to make some important improvements to the property.

Seems optimistic but even half that would be an improvement.   

Essentially....it is the simple $500k minus $200k, plus capital improvements.

I think it is important for turnkey providers to provide a warranty over what they repaired or improved on the property, but I agree that there should be a limitation on what they cover, and if there is not, then this should be a red flag for the investor.

Ways to improve the deal?

Be sure there is no damage and like @Justin Fox said, if the neighborhood can't support your improvements then don't do it.