This will eliminate the biggest hit financially and when done by yourself will end up with better quality tenants.

I agree totally with @Tim Swierczek, wholesaling is not illegal even thought the way some people do it may be.One of the biggest things I have found in my studies and research is that you can not sell the Property (the home) you can sell the contract. 

Our biggest deal so far was a 120 unit.

(never stop negotiating - ask for buyer incentives - the furniture, car in garage, money back at settlement, possession - delayed settlement - subject to existing financing - offer a hybrid arrangement, financing secured by other property, no interest mortgage - split note financing - re-fi for take over/assumption)Always consider second stage negotiations for price reduction (give good reasons - exposed repairs after inspection - other issues found)Use safety contingent clauses in the event 3rd party assignee is not locatedSince you are doing your due diligence this target building - you should look for expired listing in the area and make offers on them also.

I'm also in the military (as is my friend) and there are incentives for that as well.

I recently read of incredible tax incentives...

What incentive would they have to spend the money to do a halfway decent job?

Investor Underground is the biggest networking group in Texas with over 12,000 members. 

My biggest and most important goal in investing would be to be able to let me wife work less or not at all.

I have access to short term private money, but the biggest challenge I foresee is refinancing and keeping cash flow, as I've never done it personally.