A simple power wash and / or exterior paint job can help for some older homes too...Don't waste your money putting berber carpet in this - you won't get that back ever.

Low balling in certain markets is a total waste of time for the agent.  

Your 2nd paragraph was a complete waste of time to write and for us to read. 

Perfect scenario, just give him notice, you don't even have to waste your time and/or money to evict.Nada

If you do 10 year straight amortization, your payment will be too high and keep your cash flow minimal ( or worse) paying to own this.  

Big gains I see are NOT from cash flow.They are from finding value add properties in great locations and timing the market cycle correctly to cash out after full stabilization.A rural to one economy town semi-suburban areas might be cheap and have higher cash flow but it's for a reason.These areas are dead towns that have minimal to no growth over decades.

It needs some minimal work to have it rent ready.

If you don't have proof of funds, you are wasting a lot of people's time.

This not only minimizes your hold costs but also minimizes the risk of the market turning on you mid flip.

With that being said and your post requesting a focus on partnerships, here are a few things to consider as you move forward.1) Do you need a partner - or are you simply looking for accessible forms of investment capital that will allow you to acquire properties with minimal hassles, given the underwriting requirements of most institutional/Fannie Mae lenders.