With that said, commercial loans can be easier to obtain and will sometimes be a better fit for your projects (as-complete rehab loans, etc).And just curious....how many random colleague requests and forum mentions do you get here with that name? 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Any thoughts on getting eyes on this property from several contractors without getting PM's involved- or do I just need to get a property manager that is willing to put a lock box on without signing a contract with us.

Ideally what you need to do is study and research on your own to determine exactly what you feel is the best fit for yourself.

You could sue for specific performance if the seller violates the contract, but as @Jay Hinrichs stated, it could be costly to get courts and lawyers involved.

For one, this isn't a criminal matter and so the police will not get involved. 

I've seen some wholesalers say that they are consistently getting deals on the MLS- their method involves making LOTS of lowball offers.

Maybe working with a buyer here could actually fit better ?

@Jay Hinrichs I get the point you make, I would have to find something that fits around my current full time job.

Under that structure you would be regulated by the SEC and the whole deal should be structured accordingly.If you are planning on having some level of active involvement in the operations and not completely relying on someone (The GP in this case) to manage your capital with the expectation of future financial return on your invested capital then you can go ahead and just go the "partnership" route.