I'm in research mode now to figure out if this is even a doable idea.

Syndications are a good one, REITs, etc. and then if you want actual property, you can go the turnkey route which isn't 100% hands-off, but it's a heck of a lot more doable when you don't have time to do things yourself.

I self managed my first SFH in Phoenix from San Diego for 10 years, so out of state management is doable but challenging.

Is it still doable to find something that cash flows, preferably not a condo? 

Do-able for sure, but a lot of work.

I would like to know if what we're thinking is accurate and doable.

Very fixable and doable, just something you have to know and understand going into this.  

I've found so far that managing is do-able on my own, but that's with "only" a 40-hour work week! 

I need to get this in place if it is doable.

Hello, I just spoke to a hard money lender and it seems to be doable.