I would make sure a bundle of rights for ownership are available individually, per unit of course, then worry about warranty and purchase options.

Current tax law allows an individual to exclude $250,000 of that gain if they have lived in the home for at least two of the past five years, leaving them with a $1 million taxable gain.

I look forward to connecting with like-minded individuals, learning from your experiences, and contributing to this community.

I've become interested in finding an individual who can serve as a business partner (doesn't have to be 50/50, in fact wouldn’t want that), but a business relationships that would span across the entire business and someone who would share some of the workload, guarantor requirement and capital contribution and capital raising responsibilities, all of which currently falls on me.

It's really up to the individual investor (and their coach who helps them create their criteria and decision-making process.)

Stats are not in your favor but forget the stats as it all depends on the individual's drive, effort and processes. 

I am guessing only you would be signing the 18 month lease and this individual who is there to "help" won't be voluntarily offering their signature as a co-signer?

Though the buildings are attached, the guest rooms all have individual exterior entrances with no interior connection to the residence. 

The answers are individual specific; people can tell you what they'd do, but without a thorough knowledge and understanding YOU it won't have much relevance.Here's my suggestion - read books, search for biographical information, and become familiar with people who have accumulated a good size portfolio of real property, to see how their ambitions, experiences, knowledge, and personal attributes align with yours.  

Financing for RenovationsSince the property needs a full gut job, consider:Hard Money or Bridge Loan: Short-term funding to acquire and renovate, then refinance with a long-term loan.Private Money Lenders: Individual investors willing to finance the deal for a fixed return.FHA 203(k) or Conventional Renovation Loans: If you qualify, these loans roll rehab costs into the mortgage.3.