So, if me and my partner (co-signer) both have our private keys, from this point what exactly would we need to do to recover said crypto?
Of course, its much simpler if it wasn't multi-signature as from this point I'd just use my own private key and get it onto electrum, but the multi-sig makes it more confusing in terms of the steps to take.
I don't have any experience using the Guarda wallet so I don't know if you both co-signers have the private key or different but let's assume it's not the same then you can't use it to recover this multisig wallet.
Based on their support page the private key is only for a single address/coin, not the whole wallet so I think you can't recover your Multisig wallet using the exported private key from Guarda it would be better if you could also try it, and import it to Electrum to make this thing clear.
Like I said above try to use the Mnemonic backup to create and import multi-sig wallet into Electrum wallet and import the xpub key of your co-signer to recover your Multi-sig wallet that you created from Guarda.