Fannie Mae will allow you to transfer the deed to an LLC if you decide to try to go the conventional route, but the loan would still be in your names and you'll need to pay a title company a second time post-closing to do this  for you. 3) I can't speak for the area so no comment there4) If you're self managing, make sure you find vendors you can trust in the area since you won't be able to easily verify if an HVAC guy, plumber, etc. is trying to rip you off and tell you to buy something you don't actually need. 5) Make sure you have clear alignment of goals and a clear operating agreement that spells out what to do if those goals start to not align in the future since you'll be jointly obligated to these properties. 

I'm still in the process of trying to find the right contractors. 

Are you trying to narrow down the perfect property type for your first coliving investment?

The more time you spend talking about other options and try to build up the negatives, the less time you are spending on what you fell are the positives of your own idea.If you believe that you are onto a great idea using L2P option contracts and forming partnerships where someone else provides 100% of the money while you provide 100% of the real estate-related functions, then start it up and make it work.  

I've been knocking on doors, there is one that seems like it's abandoned, however despite finding the owners name from tax records I cannot seem to get in contract with them to make an offer (despite trying x, y and z). 

Or should I try to keep them completely separate to not dilute the brand of either?  

I have been trying to make sure I catch up on all the old threads and look like I missed this one.

It is really good that you are trying to find a focus.

Do that before you spend any energy trying to kick him out.If he hasn't paid rent, you can call the police and have him escorted from the property. 

If you’re trying to flip, what’s the point of fixing up the inside if the exterior still looks like an abandoned lot?