And will there be tax involve?

The seller financing idea seems very involved for sure. 

If I’m not the right fit, I believe I could help you find someone who is.

This is a loan to you to use as you see fit, so you can use it as often as you would like. 

These are all questions whose answers will help you chart the way forward ... there is no one size fits all answer.From an operational perspective it is always pleasant to know that your building envelope is relatively efficient (insulated and air sealed); that building systems (electrical, plumbing, HVAC and communications are up-to-date and dependable) and that you have the ability to put accountability for resource consumption in the hands of the tenants.  

One partner will 'silent' and be bringing the down payments of aproxiamtely 20-25%, and the other partner (me) will be doing all of the aquisition, rehab management, finding tenants, ongoing PM, etc.....I am currently involved in 3 other partnerships that own buy-n-hold rentals, but all of them are 3 people, so '33-33-33'.

That's a very interesting process they have, I'm not sure I want to get involved in that initially. 

@Norman Souto As @Alina Trigub points there is no one-size-fits-all approach.

We are looking for a home more on the east side of the valley right now and will be there on July 11th or 12th to house hunt, so if any wholesalers have a house in a good school district that will fit a family of 8 I'd be interested in talking with you. 

Do you involve an attorney in the process?