I'm working with another partner in raising money (at $38K, still raising) to do our first flip. 

Yes you will most likely be splitting profits but after a flip or two you will have the necessary funds to revisit the funding options you mentioned above.      

Finally, I was a president of my 5 unit townhouse/condo in roger park, and it was very interesting in how we had to raise our HOA fees in order to meet capital expenditures...it seemed like when our toilets crashed or went away to toilet heaven, all of the others did too.  

In that situation, I might choose to raise the capital and build the project, or possibly flip it to another developer if I can't raise the funds myself.

Get successful, marry her and let her stay home and raise the kids!

I was born and raised in Dallas Texas.

Place the offer without a POF or should I just use a transactional funding POF?

Do you think wholesaling properties would be a good segway into real estate investing, due to its quickness to raise funds and the knowledge I'll pick up? 

It's an 2/1 872sqft, $$1400/mo and Tenants pay all Utility 2nd property property is a Duplex.Front Unit is a 2/1Back Unit is a Studio Sqft 1832Tenants pay all Utilities Separate metersRents are $1300 & $1000/moProperty are in Great shape with a 10% capThis is a Package deal, so Pm for more pics and Info..Proofs of Funds Required before disclosing further info..

One month the state didn't approve the funding and I didn't get my check until around the 20th of the month.