After a tenant has been evicted in Washington County, MD, and there is still an outstanding balance even after applying the tenant’s security deposit, are my only options for collection limited to small claims court and utilizing a collection agency?

However, I'm not sure which route is best.Option 1: Equity PartnershipIf he provides the full $230K, I cover closing costs and manage the property, and we split the cash flow 50:50, that would give us each $960 per month, $11,516 annually.

I totally value and want a property manager to take the day-to-day management off my hands, but on issues with tenant damage and I would like to be kept up to date on matters, as well as have copies of all notices provided to the tenants for my own record keeping. 

With x number of hours in, and time to contemplate what life will be like with the transaction concluded, the other party is more willing to concede points, accept a less favorable outcome, and provide greater advantage to you.The other thought is to QUICKLY separate the “real” deals from the overwhelming majority of buyers, sellers, borrowers, lenders, etc who MAY do a deal IF and only if they are getting the deal of the century.  

@Ryan BiankowskiYou absolutely can.Research your market, come up with a flip strategy (what type of house you will want to purchase, how you plan on finding this property, what area you want to purchase, how you will come up with financing), find the property that fits this strategy, secure the financing, and close on the deal.

(C) Criminal history is clean(D) Provide references and call the references2.

I work with quite a few investors who invest here so I can definitely provide you with some information regarding markets that you can begin investing in. 

They can help provide the capital, and you can manage the property.

If so can you provide a referral for this lender?

You're going to want to find a local attorney to put together or provide the paperwork to make it legally binding if they do.