We would like to do this by making sure we are both comfortable with our partnership legally.A few more details before asking my questions.

With that said, if you would like more details, let me know.

But my wife and I had some significant health issue and our credit and income won't qualify.So I am thinking of selling. 

There are many many variables in a price per square foot and it's best to know in great detail what you want/need so your contractor(s) can give you a more accurate estimate.

I am afraid that if he knows that his house is selling for a certain price, he might be inclined to cut corners on the renovation and rehabbing.Some details about the house:It is a 4 bed, 2 bath house with 1 bath en-suite the master bedroom.

I'll send you a colleague request and a PM with more details.

Any time I press for details, none are given. 

Specific details are all based upon what are needed beyond this.Hope this helps!

I was advised to use an LLC by a CPA, but was provided zero guidance on the actual steps and details regarding purchasing.

@Trevor DickieYes, the 2-yr gap rule is a problem.If the sale of your current home is not due to some unforeseeable circumstances - like job change, health etc. - then your best option is to pay tax on the condo.