I definitely think co-living would bring in more revenue but also more work. 

I'd be seeking someone to fund the down payment of the deal and I would be responsible for property management/bringing in funds for initial renovations for a profit/split.

With a large portion of the incoming migration coming from international residents moving to the District, emphasizing improving and bringing back Washington D.C. sports teams to the city should create a strong desire for domestic residents to want to live near a fun, community engaging activity that is very relevant to those that live in and around the city.The District also has other programs it is running to make the District more attractive to live in outside of just working in the area, such as the Office to Anything program (Source) and the Housing in Downtown program (Source) which will incentivize developer through tax credits to convert office buildings into new construction housing and new construction retail properties, which should continue to attract more residents back to the area.D.C. also understands that with all of these big changes we have seen, the strategy and allocation of resources from the government moving forward should be reassessed to create a city that is adapting to the future trends to remain a safe and desirable place for residents to live.

There are very few investments that bring that level of return.  

How I would go about it is bring a deal to someone ( a friend or colleague) that I knew had money, offer them the terms I have in mind and continue until I find one.

That shows real estate can be possible for anyone; in my opinion, I know everyone has unique and challenging situations, but in principle, anyone who can follow some basic budget fundamentals can save up enough for a down payment.Grateful BiggerPockets continues to bring more people into the industry!

One solution I see some people do is to partner with another investor on a couple of deals where each brings something to the table...more capital, experience, etc.

20% down is available, 25% down will bring significantly better terms in a lot of cases. 

Try not to get locked in too long 4. we're not necessarily looking to go "all out" in terms of theming, but if we did, what kind of revenue does that bring/ROI can you expect, and which Renos for theming are best to do from a cost-benefit analysis, and what do they typically cost?

@Chris SeveneyRight, Its basically impossible to know for sure the "extra" cost - unless we bring is some kind of engineer -  which is total overkill.