I think a lease option would be great but need some advice on how that works -- I would also be willing to go in on this deal who has more lease option experience (note - I do have a partner as well)Looking forward to some advice!

However, we're finally at the point where we'd like to start making offers.At the moment, I first calculate using the typical BP rules-- 50% rule, 2% rule (I allow them to go down towards 1.25%), 70% rule with flipping estimates, $100/month/door, etc...  

The #'s still work if i can get it filled, but there would now be time and $ hurdles to clear before getting back to the financials I thought I'd be stepping in with.Now that the situation has changed, am I still obligated to go through with things or forfeit my earnest money?

Not try to go around one another's back to get deals. 

Being honest and straight forward with friends to me is the way to go.

It's more attractive to people who want to go beyond one canyon in one National Park (which is what most people do when they visit Zion NP).Please remember  I have no experience in being a VR owner or a real estate owner in the US.

Hey everyone I am fairly new to the BP community and investing however I have loved real estate ever since I was a kid.I have worked as a marketing consultant for a new home developer here in the SF Bay Area.I am looking to do some VA work for investors to learn more about this side of the industry.Any tips on how to go about getting the first few clients? 

It is always best to go with someone that you already know, but if you don't know anyone my advice to you is to get referrals from other successful flippers.

The seller has agreed to carry up to 20% as a second note to cover the down payment, but I can not find a lender willing to go with that deal. 

I will recommend to take look at BP resource for Beginners Guideline  at  https://www.biggerpockets.com/real-estate-investin... there eight chapters to go through.