I'm attending the Millionaire Mind Intensive Seminar in Chicago...driving up from Indianapolis for it.

The wholesaler that gave us the property address is also a middle man to the contract holder so basicly that puts 2 people in front of the actual seller.. not sure if I should pass my contact to them or work out some other arrangements.

You might lose more in evicting with damage to the unit and lost rent then doing a workout with the tenant.When evaluating a tenant it is just like an asset manager would review a home owner on  a loan.

The home was supposed to be listed at the beginning of May, but I had tried out a new contractor on this rehab who did not work out.

I would look at some criteria and set it, then if someone meets it use a first qualified or best of the pool method for selection (risk management and takes some guess work out)...Back to the objective facts, I would steer clear of anyone with an eviction, living rent free for an extended time in a manner that was not clearly legal, and theft, think about a policy based on misdemeanors/felonies and a time frame (like misdemeanors ok if 10 years back or not relevant to tenancy)...

The higher rate with interest only might work out OK with potentially lower transaction costs and not having to refi.3) b) is similar to how I've done my last several SFRs (so it feels "known"), but I had Fannie/Freddie for those refi loans.  6+% rates plus principal and 20 yr amortization periods make this less attractive, but can I find local banks or investor friendly lender who will lend 75% of ARV at ~5% with 25 yr amortization?  

The higher rate with interest only might work out OK with potentially lower transaction costs and not having to refi.3) b) is similar to how I've done my last several SFRs (so it feels "known"), but I had Fannie/Freddie for those refi loans. 6+% rates plus principal and 20 yr amortization periods make this less attractive, but can I find local banks or investor friendly lender who will lend 75% of ARV at ~5% with 25 yr amortization?

Go find a good deal and it will all work out.

Retail = less mgt headaches (with NNN leases) higher risk of vacancy and default.Multi-family more stable income base but can be more mgt intensive depending on size.  

I want to work out a partnership with him to acquire apartments.