The earnest money is to ensure the buyer has a vested interest in actually closing -- so he doesn't walk away. 

are there any expert tips on how to get it quicker or ensure I'm being considered for the property.

@Steve Ramer a po box is highly suggested I have piles of returned mail from when i was sending out consistent mail campaigns you may want to create some type of system for re skiptracing your returned letters and locating those sellers these are the low competition deals because chances are you arent the only investor who is getting returned mail from that particular seller so you want to ensure you get in contact because the rest will quit trying!!

I'd highly recommend getting a real estate license as well.4) Did you do research on the DM providers to ensure you're getting the best service, best product, and best price for your mailings?

When forming that business relationship the role of the sponsor is to ensure the the investor is fully aware, capable and comfortable with the sponsor and than the deal.

If it is vacant do I as the new owner have the right to start a rehab or do I have to legally ensure occupant is evicted before I can enter the property?  

Notes:  The lender is responsible for ensuring compliance with this regulation.  Waivers to the seven unit limitation can only be initiated by the jurisdictional HOC for good cause.

It is the homeowner's responsibility to ensure that a vacant property has things in place to prevent break in such as setting up a radio to play while vacant, leaving a light or two on, removing things from plain site.

The cabinets are in good condition but I’d like to change the color to give the kitchen a facelift & get a little bit more income from the unit (along with replacing floors & painting) What is the best way to refinish the cabinets while ensuring they’ll still be durable for renters?

The remainder would go to the other money partner(s) pro-rata.So in your example of $480K split $200/$200/$80, which is 41.66%/41.66%/16.66%, the profit would split 20.83%/20.83%/58.33%.Be aware that this arrangement is most likely a transaction involving the sale of a security, so you should seek legal counsel to assist to ensure that you follow the relevant securities laws.