While certainly not as extreme as the examples in the article you shared, I've seen condo owners in many states hit with special assessments. 

Any lessons learned that you can share from the experience that would benefit us? 

My spouse doesn’t love having a tenant and sharing walls with someone but can see the benefits.

We're hoping to bridge a large knowledge gap through various resources and I'm hoping this forum will share it's wealth of knowledge.Lastly, as with any post.. if anyone has any great Attorney or Realtor or any other party that should be involved a referral would be extremely helpful and greatly appreciated.Thanks in advance for you time.

This is simply known as an On-site Rental Company.

Thanks for sharing, I agree that time and long term investing offers the best return on the monumental investment it takes to  update a home.

did they want both people on the loans to live on site?

Another option is to have cash saved for the rehab-- it really depends on your situation and the extent of a renovation.Start hitting up lenders in your area and see what they can share-- each bank might be slightly different.

@James Wise You've got to share your connection man...every time I post my map it gets removed from the forums...interesting.

If you need a spreadsheet to calculate your hours please let me know, I have one that we give to our clients I'm happy to share for free