I am looking for advice or any tips on the whole process and any assistance/advice would be appreciated! 

But some circumstances require that the property be held, such as when the end buyer is getting a conventional loan and Fannie/Freddie requires that the loan app be dated AFTER the B Buyer close on the property and officially is the owner of record.

@Chad Justice,Welcome Chad.You have indeed came to the right place to network,learn, and advance your REI career.When I started many moons ago I too knew some things about construction, trades, remodeling,ect.What I soon found out was that was just the tip of the iceberg.Done correctly REI is about a lot of moving parts.Finance,Law,Marketing,Research,Evaluation are just some of the things you need to educate yourself on toward the strategy you are interested in.

Thank you for the tips.

Luckily, I work at night to make cash tips as a server, so I can afford most of my monthly bills within one week of work.  

@Alex Craig, thanks for the tip on Little Rock.

.- I would like to position myself so that I could be able to work on similar deals with my business partner in the future.Any advice, including tips on finding a qualified CPA/Attorney to work with and working with someone out-of-state, would be much appreciated.

@Noel Ruiz (sure wish that would work in app) I think the spokane market is a great market to be investing in, just running numbers off basic finds on realtor.com site decent cash flow and that's not doing the hard work of driving for dollars, or direct marketing, or other ways of finding killer Deals.I like the perry district, I think it's a cute up and coming area, and I also like browns addition.

Also, I'd be interested in hearing tips/advice for working with contractors. 

There are also other options used by larger landlords which give the landlords direct access to background info without the tenants having to do anything other than sign your rental app.