Your best bet would be to find an owner that is open to seller carry.

The way you carry yourself, your knowledge, experience, confidence, and appearance all factor into each situation in different ways.

I unfortunately cannot qualify for the loan, so I'm looking for a partner to take on the $250k loan and bring $147k of equity.I'd like to structure the deal so that I have equal ownership interest with my partner, but he / she takes the majority of the cash flow, as he / she will carry the debt and bring almost all of the equity.

Seller carries note for 5 years then balloons.

Long term tenants of an unwanted property tend to carry with them problems for the new owners to solve.Best of luck!

How many negative cash flow properties can I afford to carry on my working income ?

In my area that can actually carry a premium if it's in good condition.

Even then rare...Having 100% extremely late sounds fishy.Bad news: you may have to serve some notices and carry the mortgage (all or part) in the transition.... and you may need new or more effective management.....Good news: you can refresh these tenants (i.e., not renew as lease ends or evict for non-payment); screen the new ones and emphasize timely payment; also you get a good lesson: give one tenant an inch and they'll all take a mile!

However, when you are carrying 350K of student loan debt you better believe it impacts your ability to get financing even with a good job. 

Soft costs will vary based on impact fees, professional fees, RE taxes, carry costs and mistakes covered in your contingency.