One suggestion I have for you is figure out your financing strategy whether it’s going to be cash, some sort of partnership, or a more traditional mortgage route.

I want insurance, I know I need it, but I dont want to find out that I had too little, not the right coverage, some infamous no-pay provider, or the wrong policy.LLC partnership for remodel, brrrr, renovate and resell ( with subcontractors)LLC partnership for new construction (subcontractors)LLC sole proprietorship for staging, revision, and redesign, GC for minor repairs, event organization, cleaning.

If you can focus on finding great deals, there will be financing out there for you through hard money, private money, other investors, partnerships, etc.

We have a partnership LLC already for a shared storage locker business, and we each have personal LLCs for other real estate investments, so there are a few options here. 

We are interested in selling an apartment building we own and cashing out the $700,000 equity which is making 10 cap and getting more aggressive with real estate Flips and Partnership deals.

Partnership is the model I've done and it's allowed me to scale much quicker. 

ARV should be around $150k.I am seeking advice on how to proceed, if I should proceed with this deal, and possible partnerships to learn along the way.

In your case you do not have the money, and you are too far to be the boots on the ground for the team.Between now and then I would save, and then work on becoming an expert in the market you are interested in so that when you return you will have something to give to a partnership to show value. 

So a disregarded LLC will work for what you're thinking.If the LLC must be regarded - meaning more than one member or electing partnership or scorp taxation then it is regarded and selling as yourself and buying as a regarded LLC changes the tax payer and would not work with your 1031. 

First thing you will want to do is establish a partnership and make sure everyone is protected and details on the partnership agreed upon prior to finding properties.