I understand you're a realtor, but this sounds like an extremely niche property.

i am trying to BRRRR which is also extremely tough. 

S8 tenants (not bad but price is extremely high for S8 type tenants), house looks rough according to you, absurdly low taxes.

If the landlord is paying any utilities that are based on usage such as water, then I might discuss a rent bump to compensate for the anticipated increase in usage and address that with the lease update adding the person as an occupant. 

Not only was the networking extremely valuable in pushing me forward, but I can honestly say after attending numerous conferences (like you!) 

I'd also suspect that as an owner-occupant, one might be able to skirt strict STR laws, and rent out a primary in an extremely in-demand market, especially in the near-term (think collecting huge fees seasonally around CU football games the next few years). 

The same type of property usage needs to be maintained to qualify for the 1031 exchange.Also, be aware of the time limits involved in a 1031 exchange.

And we both work extremely hard for each other, and make no excuses.When you are vetting a partner, ask yourself What value am I going to bring to this partnership?

It is extremely rare and not even worth putting effort into additional protections.

My water usage bill is the same.