The contractor will view his labor as free, I will charge him the monthly to buy the property on a rent to own AT FULL MARKET ARV PRICE, what choice does he have, his credit sucks. 

In general I'm not a big fan of partnerships, especially advertised ones or with people you don't know as @Jay Hinrichs points out.A couple problems beyond that though:  a bank will only allow the borrower on the deed traditionally.  

Another business form may be a better choice if you plan on having investors, want to fund the entity with retirement funds, etc.It is wise to seek advice of local counsel to determine what the best form is for your goals.

I had to purchase it, no choice.5. 20 Unit - The owner of the 12 unit above told me a broker had contacted him about a 20 unit building for sale and was I interested since he wasn't interested.6. 17 Unit - Broker for the 20 unit deal called me and said he had a pocket listing for the 17 unit deal. 

There is quite a bit of resistance by traditional investors to all CFing, IPOs are no different.  

Success is a process, failure is a choice

However I find that the stories are almost always about traditional REI strategies like flipping or wholesaling.

@Davon Lowery - You might want to search for "repiping specialists" instead of using a traditional plumber.  

there is no question that I could've made some different choices regarding my credit.  

I am in a small town and there are plenty of choices.