This approach seems like there could be missed opportunities as the partners wait for the LLC to be created.

Don't pay for any secret to  get rich, real  estate is full of scammers, many are referred to as gurus.I'll urge you to take a professional  approach, learn real estate, then how we deal in real estate.

Since there aren't already enough options... you could also look into turn-key investing as a hands-off approach. turnkey-reviews.com provides a list of great turn-key providers.And of course, you can reach out to me with any questions as well.Happy investing!

Be available, approachable, and friendly.Is mold present?

My approach has been to read as much as possible on real estate investing, and listened to the podcasts.  

I have a couple potential investors that have approached me and are willing to loan me money to do a flip or multiple flips. 

What's best approach at possibly getting this property without putting money down? 

I couldn't have done it without the platform, or the help of @Peter Comb @Ariel Goldenberg @Jared Townsend and countless others who have written blogs/posts/discussions and answers that have helped me.  

Less than a 2 hour drive from SF and the barrier to entry (a.k.a. price) is much more approachable for someone starting in the business compared to the Bay Area or along the coast of CA.

That approach and effort will go a long way for you I'm sure.