For future repairs, just make sure you are setting aside sufficient money for when something comes up.

5) Resource guide for laws of tenants/landlords (What landlord legally responsible for)6) Handling repairs remotely (Small items from replacing light bulbs to emergency situations - water/electricity/etc)7) Finding a tenant that could be more self sufficient (need to embed any language in the contract?)

What price would allow sufficient wiggle room in the numbers that I wouldn't be so concerned with the risk of vacanies?

Or, your fiance has sufficient cash and you are just covering her. 

For the vast majority of homes build in the 30s-60s in California I would say you are able to see all the challenges that you would face in the inspection report on the property, that is why it's imperative to do that during escrow.

As long as there are sufficient Assets to cover the Purchase transaction, Debt Service checks out and Payment/Credit is in line. 3) Timing/Timing/Timing-  Best terms will undoubtedly be with a Conventional Lender, if you can wait it out-Perfect.

It's a great option as long as you use all (or the vast majority) of the funds to pay off debts, complete the rehab and purchase a new duplex.

Anything left behind will be handled using the security deposit, which is sufficient for that and turnover costs.How did I do? 

Couple of additional thoughts:   50/50 seems extremely one-sided as I would be doing the vast majority of the work and he gets 50% of profits.I could find funding and possibly a mentor elsewhere and not have to share any equity of any cash flowing property.I am also curious why he would want to partner with someone like me instead of an experienced house flipper.  

Overall the house had vast potential for a fix and flip and everything could be done while residing in the property!