Do they have a family or friend that they trust enough for them to get a POA signed and notarized, with the friend or family member managing the notary at the POA signing.  

Sellers then get a notarized copy of lease and a separate option.

A local real estate attorney said we could open a bank account with power of attorney that has been notarized (appostile, maybe?)

He had notarized copies of the quit claim and deed.

Rob's basic philosophies, including the ideas that your residence is not an investment and that an investment makes money whether you show up to work or not are solid pieces of advise.

Unfortunately, investors (which is what you're considered whether you intended to be that when the bought the place or not) are not highly regarded in community associations so this may be an uphill battle.  

I would get seller's right, tax write off for the mortgage, and a notarized promissory note outlining our agreement that he is responsible for 50% of the mortgage and will handle tenets and manage repairs. 

NEVER do a real estate deal without a contract, - signed, witnessed and notarized.

Have the current owner sign and notarize the agreement.

If not, are there other dumpers in the alley?