This is generally why nonqm like dscr exists.

I'm relatively new to this and am grateful for any advice from the forum. 

Looking for any input or advice on how this strategy actually works.

Is this what you would do? 

Second, by working with an investor does this mean partnering with them and using their capital for investment properties like fix and flips?

You would need to some your research and decide which route suits you best. 

Anyone have any experience in this area?

This is a fine example of where to research out of state investments as the housing prices to purchase are still reasonable and low (not like California where I am and entry level house SFR is a million dollars). 

The other area I'd consider is Cleveland after listening to one of the BP podcasts and doing some research on that area.

Of course have your costs researched first bc the buyer will want to know how much it will cost them to buy.