Rent-by-the-room will be easier to acheive than a two unit, rent by the unit "duplex" style househack, but even the duplex style could still be possible if you buy right and are willing ot put some sweat equity into the deal. 

Ideally I would like to fix up a place like this and then either move out & hold as a rental or sell & cash out on the sweat equity. 

I like sweat equity and brain equity.

Say 1 has good dti and credit so qualifies for the loan, another finances the down payment, another is a craftsman and provides sweat equity, etc. 

And sweat equity is what allows the investor the potential to get a higher return than a passive one.But you're saying you have no time (with a full-time job and on top of that was starting a business).

I would look for a duplex that had sweat equity opportunity such as that 70s look. 

We've put in a lot of sweat equity to remodel our new home to our liking and as of October 1st, we became landlords of a long term rental.  

There is a place for sweat equity, but you had the capital to buy two buildings so I would not waste time on those activities.

I had to pay it in money, blood, sweat, tears, overcoming fears, frustration, hard work, and tenacity. 

OR take my time with it, put in more sweat equity, and shoot for closer to early-mid December.