Mixing real estate with a co workers seems like a really bad idea.

Of ground up the entire building needs a CO before you can rent units if rehab you can rent as you go.You need to shop the loan to several banks and lenders as they all offer different rates and terms.

Most of the time, this is the usual 6%-ish sort of earned commission ("success" or "earned" means they actually performed on the terms of their listing contract and actually brought a buyer for full commission, either through their own efforts, or through the efforts of a co-op/buyer's agent who earns up to 1/2 the full commission). 

While this is fine for a period of time, I would like to figure out a longer term solution.I've thought of getting a co-signer on the mortgage, as well.

A co-signer (like a parent or rich uncle) can help make this happen if needed.

Had trouble getting a CO as a triplex when originally built as duplex.

I found this one for CA, but would like a CO specific one. https://www.firsttuesday.us/co...

Hi Shannon,You will probably be better off with a co-sponsor who is an experienced sponsor in the asset class you are buying.Ask your broker, your attorneys, and your CPA if they know of any one who might do this (after looking at your deal and your numbers)Good Luck! 

Choosing a non-REBNY member brokerage that's based deep inside an outer borough is not ideal for a co-op sale in Midtown (I won't even ask how much experience they have with co-op sales). 

I got an impression that they want to buy the entire property using the exchange funds, and then after the fact write in the other person as a co-owner.