Usually go with non refundable down payment,  some type of monthly credit towards their purchase (only if negotiated ), buyer responsible for all repairs ( assuming home is in good condition when they are buying it) and if they are not able to execute at the end of the lease term offer an extension period with possibly a little more down payment. 

As a first time investment buyer, I just don’t know which is the better investment.

Basically “move in ready”.

Set up basic website3.

You have to find lenders (and there are plenty of them in Arizona to choose from) that offer non-recourse loans where the solo 401k account is listed as the buyer (not you as an individual).

The person who can go see the property and meet/greet the seller/buyer.

Welcome to BP @James Russell, As you mentioned above, making sure that you have the basic knowledge before jumping in is important. 

I'm a bit confused as to how to offer it or if I'm not doing the process correctly.I've spoken with both buyers a few times.1st house is worth 103,059 and was bought in 2007 for 94,500.

Wholesalers have no shortage of buyers, it is sellers that are the problem thus they don't typically look for buyers in the forums, you might have better luck reaching out to them directly.

Are you going to be flipping this or holding as a rental and looking to advertise to potential tenants vs investors or retail buyers if you are flipping?