Gotta watch who ya snag for a partner, it's easy to be had, now, I might suggest you consider an older partner who is more experienced that can carry on in a partnership arrangement based on a true meeting of the minds and loyalty with benefits for both, you just wouldn't have those games ;-))

Consider an FHA loan where you only have to put down 3.5% or other means of putting less than 20% down for owner occupied and avoiding PMI if you can.I personally love saturated markets because they don't allow you to add to the inventory easily which can dilute your investment over time.  

Also know that C-corps are double taxed... you might want to consider an S-corp or an LLC.  

Its always striking how often small time landlords won't call me back when I call about a past or current tenant.I always return calls about my tenants as soon as possible because I know how important it is for landlords to get a timely response as they consider an application.I'd say they are hypocrites, but they are not necessarily since some may be the type of landlords who are too lazy to call landlords references when evaluating an application.

You might consider an assistant to a Commerical RE Agent (CCIM) /  Realtor who does MF (MultiFamily).

I consider an emergency to be something that renders a unit uninhabitable according to state law.  

There are a lot of con artists in the world who rely on doing their con on you face-to-face.I vetted scores of tenants over 8 years there, so my point is just that it's not an automatic bad risk to consider an out-of-state applicant, as long as you use the same great criteria.This is just the trend of the world, like using Skype and online banking, etc.  

Consider an alternative.

, what do you consider an acceptable ROI in your rental property business?  

Id consider an LLC or some corporate form as well.