. - whenever I am contemplating questions like this I ask myself what would a large company do?

While considering options for financing, I have contemplated the best way to get money for such a purchase.

Contemplating on living in the guest quarters and renting out the 3bd 2bath so one can continue to manage the property.

Can't even contemplate how I would handle something like that.

The seller's SOW didn't contemplate a new roof, an out-of-use pool in the backyard that neighbors had been using for burning trash and needed to be filled, exposed and out of code electrical, and a basement that had been dug up by the previous owner.

My wife and I only had but $20,000 to our name and we contemplated pulling out the $10,000 available from the credit card to throw in ( good thing we didnt ).   

Podcasting is cool, even contemplated trying my hand at it for my industry some day.

You should look to admitting a partner on a basis of sufficient capital contributions to "buy in", but exceptions can be allowing others to enter based on other contributions that are justified to further the business contemplated.

Apparently that is more "doing what it takes" than most are willing to contemplate.  

Robberies, assaults, home break ins are common.