Currently, we've decided to split the cost of a new septic system and still waiting for engineering plans to come back.

There are also many experienced BP community people to help you establish the legal entity.

I am currently working with a contractor who isn’t very experienced with contracts/paperwork.  

I am writing this post so I can help illuminate other investors of issues I experienced through this whole process.

I also don't recall seeing such a high alteration fee, or one based on the percentage of the renovation budget (It doesn't cost more for the condo's architect/engineer to review more expensive fixtures/finishes).

A structural engineer would be your best bet to have a look. 

Even if no one will co-sign you could partner on this deal with someone more experienced and learn from them.

I always get 1-yr hard money loans these days, even for a 2-week flip, because I've seen and experienced enough things going wrong, things out of your control.The nice thing about hard money, especially for newer investors, is that they will double-check your deal for you.  

Want to get the more experienced folks' opinion on something I'm thinking about....It's easy to increase cashflow with a greater downpayment / less leverage.

I am not an experienced wholesaler so that is why I am asking the questions.