So our options are: 1) Buy the place now, deal with the problem tenant, know we're losing at least 3-4 months of rent, and risk the unit being trashed by the time we can get into it, 2) Have the contract run until after the court date, let the current owner deal with the eviction, assess the condition of the unit and adjust price accordingly, and risk interest rates being higher when we finally lock in our mortgage rate, or 3) Walk away.I've already budgeted in some money for the lost rent and for renovating the unit after the tenant is out, but it still seems like an awful lot to deal with and a lot of uncertainties.

This platform has a lot to offer.

For correspondent lenders, it is common practice to establish a seasoning period of around 6 months to avoid scenarios like the ones I describe above.There are a number of factors at play, but hopefully that helps explain a few reasons why your lender might require a seasoning period while others might not.

Establish relationships with people who are in this business for the long term and they shouldn't care if you make $200 or $20,000 so long as the numbers make sense for them.When I wholesale a contract I typically have my end buyer pay me outside of closing. 

You can use part of the money to establish reserves in case things go sideways.

I would say that when you are new, its best to go with an established lender that has a solid reputation, good reviews, presence online and here on BP - its definitely risky going the informal route when you are just starting out

All of my investments are long term buy and holds in a very desirable market (San Francisco), so that allows me to establish certainty wrt my mortgage payments.  

Or would you argue that being a sponsor/ establishing a syndication even for a large commercial property isn't a full time job?

There is a lot to consider here but I’d start with this. 

Run the numbers on a number properties and establish what average returns are in your hood; then you can use that as a benchmark for your deals and help you with the analysis paralysis.