Your emphasis should probably not go towards "splitting the profits" (which, as mentioned above, why would they need you if that was the case), your strategy might be better directed at saving them from the pressure of their present situation without taking over their troubles.

I am in Queens, New York looking to house hack my first property, but because of NYC prices I was thinking of possibly going the out of state route with an emphasis on Dallas. 

My guess is his emphasis is more on developing a "proof of concept" that you can then use to attract investment for larger developments with multiple properties (assuming you're not starting with millions to spend). 

Your focus is on Pyramiding this up in a Portfolio Builder Strategy, placing an emphasis on equitable returns in greatest capacity possible.

Meanwhile you probably want to shy away from the bank where loan officers leave.While not a primary emphasis of your post, it was mentioned by others in their responses and wanted to suggest not to purchase real estate in your name solely because the loan terms are better.

The most common place to list your space is probably FF, followed closely by Airbnb now that they've put an emphasis on longer stays.

Emphasis on NO SOLUTIONS!!

Rather, the emphasis should be to learn it and do it (over and Over) and become comfortable with the process before ponying up your hard earned cash. 

Personally, I would place more emphasis on looking for safe neighborhoods (which will correlate to some degree with school ratings) for both you and your tenants' sake.

I'm no lender but from my experience scaling as an investor, the lower the purchase price/number of units, the more emphasis is put on the income of the borrower.