We have a balance of 266K on the mortgage @ 3 percent interest.

Lots of the properties I looked at were not treated nicely by the tenants. 

Had the chance to do this flip with a close friend that did not have to capital to take it on themselves.

I'm local the SLC area.

@Stuart Udis my thought was to spread the risk is why to partner.

I am an aspiring real estate investor, excited to dive into the world of property flipping.

What is the ARV?

Does the property you found need any rehab? 

The amount of the EMD only matters if you don't actually plan on closing.

Partnering with a wholesaler sounds fine, but check the real estate licensing laws in your state before bringing a buyer for a commission.You might consider getting your real estate agent's license and legitimately earn what your skills, drive, and experience truly command. exactly wholesaling or bird dogging is not a life time or long time occupation  RE sales can be lifetime and if your any good at it at about year 10 you should be getting all your sales from referrals and such.