Whereas the partnership portion would allow us to take it down much quicker and with substantially more reserves, but it would more deliberation for each decision to be made on the property. 

Can confirm that my license is active.

Hi @James L doddIn my opinion, I don't think it would make sense to go more than 20%-25% down on a seller financed deal.  25% down would be conventional financing terms so if they start to require around that amount you should be getting much more favorable terms on the deal (for example, amortization at 30 years, 7-10 year balloon payment, interest only for 1 or 2 years, etc).The big thing would be for you to confirm that the NOI is accurate. 

This is just my 3rd flip and I don't have a lot of capital reserves, so I'm trying to find out if there are loans that include both the purchase and rehab upfront or at least part of the rehab?

Certain offers are reserved for owner occupants first to give them a chance to acquire the property that investors wouldn't give them. 

If new, the lender will probably require some cash reserves as well, to make sure if can finish the project if you go over budget.- Tom

If it is for you to move in, as Tim said, make sure the contact states that the unit is to be vacant at closing and confirm this.

Banks also look at your income, reserves, DTI (debt to income), Employment duration to name a few..

You'd essentially be spending $200-500 to get the confirmation that you should start the loan process, then spend another $200-500 as part of closing the loan. 

Then build a reserve fund of $10k or so for multi family repairs/capex.