It's legal, and simple,  and may not even be a new concept to you, but having been an agent for 9 years was never told how or why to do it.   

I toured a foreclosed property in my area that is a 3 bed 2 bath, large, open concept house.

Keeping a journal of ideas is a good way I've found to keep track of this search because you never know when one of them is going to be the answer to a problem you have down the road.You'll know when the high-class problem is no longer high-class when you have this urgency.

Real Trends/Wall Street Journal maintains a list of the solo agents over $20 million and teams over $30 million in each state.

First you file plans for the overall concept for the city to review.

Next you are mixing up a lot of legal concepts that are not usually compatible. 

The value of a 10x10 room in my area is like $600/mo plus utilities and a room 50% bigger 12x12 is worth $650 plus utilities, so lots of little but decent sized private rooms are better than fancy big open concept houses in terms of revenue.

I did some research and am still weary of the concept. 

Open concept floor plan.

I am very new to the concept of equity partnership and the pros and cons out there.Does anyone know, how to find equity partners interested in this type of venture?