I have had a contractor take a look so I have a good idea of what I'm getting into just need to put in an offer. 

You can do a google search for a 1031 tax calculator to get a ballpark idea (you will need a few data entry points (sale price, depreciation taken, balance on the loan, 1031 fees, etc.) 

Some of this is common for new construction.As far as repair, does anyone have ideas?  

I mean I have 10 million plus of those but that's inventory and I have a bunch of equity and well I never hold anything .. also coming into a little slower market I just wont get over my ski stips I might build 10 homes on spec in the 400 to 700 range but that's it.. if they don't sell I rent them and suffer a little negative to ride out the market and don't sell if prices are not in our favor.. so to use Thomas leverage ideas I do that a lot.. but just not on long term contingent debt..

I think each one should have their own LLC partnering into an LLC for these type of endeavors.You need to read these threads:https://www.biggerpockets.com/renewsblog/effectively-conduct-joint-venture-agreements-as-a-real-estate-investor/https://www.biggerpockets.com/forums/48/topics/596231-how-do-i-properly-construct-a-purchase-with-a-partnershiphttps://www.biggerpockets.com/forums/51/topics/591376-create-an-llc-for-first-partnership-best-way-to-do-sohttps://www.biggerpockets.com/forums/51/topics/526244-taking-on-partner-s-and-limiting-our-liabilites- one base idea of asset protection (and LLC) is to separate your personal affairs from the real estate investing.

A statement like his would be a huge red flag that a) he's a crook b) he has no idea what he's talking about c) he's lazy and doesn't check comps.

I’m writing this because I need some strategies and ideas on organizing and jeeping track of expenses, numbers and fees.

Understanding your end goal and building a plan to achieving it is far more important than the idea or thought of just buying one property. 

The best way to get an accurate idea of what the value would be is to have three appraisals done. 

If you have a fairly good idea what you want, make a sketch and do it through fiverr.