The server is successfully up and running, DD! As of now, there is no in-game console to connect to the server, and most servers by default are in the Versus gamemode.
If anyone wishes to connect to the test server, choose Play --> At the bottom of Versus --> Browse Servers
Screenshots are attached.
After reading the documentation, the launch parametres for a Coop server would probably look like this:
rt=27131?MaxPlayers=24 -log -hostname="=F|A= Coop Test Server”
Combing through the Config parametres, and hoping to test out the server with other members later today!