I would recommend finding the remaining life for the big items (roof, hvac, etc) and breaking out the cost needed to replace/repair.

The only people making money wholesaling are the guys selling the education.Now that we've got the above out of the way let's get into the skills you are going to need to make some serious cash putting motivated sellers in touch with investor buyers.An in depth knowledge of the market.Marketing skills.Sales skills.Negotiation skills.Accurately estimate rehab costs.Understand how to much time it would cost to run a renovation on the properties you are presenting.

He may want to get out of his payment, but he doesn't sound that motivated and he should be able to easily sell it if he prices it right. 

Do I just have a dissolution contract between my former partner and I and file a K1 for the time period we were partners and the remaining part of the year on my personal or is there an additional step?

The holding cost is comprised of the interest payment plus taxes, insurance and utilities you need to pay while holding onto the property before you can re-sell it.If your credit is 720 and above, you can get a BLOC (Business line of credit) to fund the remaining 10% + points+ closing cost + holding cost.

If I cross-collateralize and get a first lien on the cross property, will I obtain it if my borrower defaults on the payments and I foreclose, even if the remaining equity in LTV is significantly less than the value of the cross property?

The fundamentals of the market may be independent of the motivation of the seller...or they think it's good time to get out.

With time being my biggest asset as a college student, I'm taking advantage of the surplus I get at home rather than juggling football and remaining in great academic standards that comes with College. 

I'm hoping to receive a bonus for work within the next year and that will pay off whatever bad debt I have remaining.

People sell at a discount when there is financial motivation, lifestyle motivation, or they want the "easy button".