Once you have a business plan in place have a lawyer advise and draw up a legally binding partnership agreement based on that plan.

Agree with @Thomas S. putting your primary residence into an llc is not worth any “possible” protections....harder to finance it and you give up the tax free gains if you eventually sell it as your primary.

There are probably fancy ways to protect yourself even with an LC, so get legal advice. 

There would have to be an economic incentive and then that is going to involve taxes on gain etc etc. 

you don't want to take your 200k tax free gain and turn it into a taxable number … so if it was me I would either sell the home take the tax free gain and figure out what to do next.or I would stay in it..

To build up a fund to hire an attorney to find a legal way to oust owners who rent out their units?

This is all very situational based on your annual capital gains and W2 income.

Im looking to gain some experience on the job for little or no compensation.. knowledge is invaluable.

May I ask why you are not going to an Attorney to draft the partnership agreement and get legal advice?

Our goal is to gain the experience from the first couple of investments and then to grow/multiply the portfolio.