I will utilize debt for leverage in the near future.  

My biggest concerns pertain to:-Out-of-state investing-What stipulations are there for financing an investment property located in another state -Deciding on whether to personally obtain the loan or do it through partnership's LLC-If partner lives in area who is highly valuable, but currently rebuilding credit score, would they need to be involved in financing process-When partner's credit is improved, what are the stipulations for the partnership if we decide to utilize the 3.5% FHA Loan or use the partner's VA Loan benefit to purchase a multifamily with a 203(k) loanAny help would be greatly appreciated!

Pamela,As this stage early on I would utilize this forum to see who will really spend the time to answer your other questions.

It is no different than any other utility - are you liable if your tenants misuse the water or electricity (i.e. grow op, unlicensed home brewer, etc)?  

Hello @Duc Ong I would recommend utilizing services such as Angie's List or a website called Thumbtack.

I recommend to use BP as a dictionary and learning the jargon, strategies, etc and utilizing meet ups to learn the market.

We're vegetarians, almost vegan (avoid dairy), so we've discussed the challenges of raising a child around everyone else being meat-eaters in our circle, we really need to find some vegetarian/vegan friends so he has some little veggie buddies that won't hassle him

I am looking at low down payment owner-occupied options through a portfolio lender at 5% with PMI, that will go away once reaching 80% LTV (so will get some extra cashflow after approximately year 7).In my analysis I account for Expenses including (common utilities, taxes, property management (10%), Long term maintenance (10%), short term maintance/repairs 95), legal, misc, vacancy (7%) etc, etc.)

But once in a while, we'll have a property owner only utilize us for listing their property and finding a tenant. 

Mortgage is one expense, but there is also taxes, insurance, utilities, home owners association and repairs.