Consider adding amenities such as a rooftop lounge, a pet wash station, or a co-working space.

Even if that partner was a co-signer and then you flipped it together, it would be a learning experience with an opportunity to make some cash for the next deal and so on. 

I think you could potentially either keep your current asset, set up systems to make it as passive as possible, and possibly hire a co-host like you mentioned or property management.

If you have not raised money you may also want to bring on a partner who may have experience with raising money and make them a co-gp as well as someone with a track record as another co-gp. 

RyanYour quickest way to build credit is to have a co-signer on a big purchase like a house.

Learn from other's mistakes and if you're serious about operating STR's and you're not opting to have a co-host, know that it can and almost ALWAYS is a full time job, unless you have an excellent team in place and your automations and tech stack is on point.

However, if he gets a CO and the closing date passes and you have not closed due to your lending then you would no longer be under contract and he could sell.

My understanding of it is that your spouse has to either be a paid employee, or a co-owner of the business.  

What issues can arrise if I do not have a CO? 

At the end of the day - if you're a co-op, you should be acting like one or you could get yourself into more trouble than just maintenance issues.