For smaller properties, your PM is, probably, not going to be the best and brightest especially if they've been in the same position for 10 years. 

These aren't issues that are specific to flipping and should be a primary focus for any real estate investment - The bottom line is that you made a profit despite the challenges you faced - and congratulations for that - but it seems to the bystander that you gambled with another investor's money while investing very little of your own - you put yourself in the position of a teacher or mentor when in fact you are not extremely experienced in the business of flipping - consider how you would feel if you lost a portion of your partner's investment....Today I am closing on the purchase of my 15th flip for the year, and I wouldn't dream of taking on an investment partner who wasn't equally experienced and had an equal say in the decision process.Good Luck with your future projects and Happy Investingjeff 

I was hoping for feedback on using conventional financing vs hard money.

I was hoping I could get some feedback on the situation I am in now.

Any advice on positioning myself to get the strongest terms? 

Appreciate the feedback

Our advantage we had walked the property two years earlier, so we had an idea of what we were getting, having a home inspection will also give you the information you need to evaluate further, and if you can have a property manager walk the property can give feedback will also help. 

Many thanks to you all for the feedback.

@Rick Browning have you ever had a positive eviction hit from Maine? 

Will a private lender loan without taking a lien position on the house?