I've identified a partner who is an experienced developer, and also can provide financing.

Once you identify a few good candidates, I definitely recommend using a state-specific, in-depth application to get a deeper understanding of who a person is if you plan to rent them your property.

Do you have any prospective properties identified? 

Unless you have already identified some opportunities, you may be sitting a while on that cash so that the interest cost will be accruing while your funds remain unused.I do not know the Provo market (I am sure others on here can give you more granular advice) but am generally a fan of real estate investing in college towns - vacancies tend to be few and far between as demand almost always outstrips supply. 

I'm willing to accept that I may have done something wrong, but I cant identify it. 

I sent them a picture and CSU identified them as phallus impudicus eggs.   

Granted older/distressed homes might provide a better ROI but I assume it is a challenge to identify and fix such a property. 

I have identified a single family home in Indiana state and I am looking for a lender who can lend 80% of price.

In identifying an accountant, look for one that has experience in REI and understands your vision for the future. 

I’ve identified 48224 and 48215  zip codes as areas that could be C neighborhoods.