I ran across this story and am racking my brain on how I can make this a win-win deal for everyone involved.

Best to ask your loan officer because there are so many ifs, and but whens involved in qualification guidelines.Not sure why your relative doesn't want to disclose the terms (tax liability?)

@Deren Huang is one who's highly involved in Tulsa area, and also is an investor himself, if he can't help you, he can definitely recommend someone.As far as signing, no, they should be able to set up a "remote closing" for you to sign locally to you. 

@Joshua GostonAs mentioned by others, speaking with an experienced syndication attorney is your best bet.

What you say are some of the great things to weigh; is the cost of the 1st month's rent worth freeing up my time of screening tenants, doing showings, and anything else involved in the placement process?

Growing up my parents had a few rentals so I had some background, but my involvement mostly consisted of helping to clean, paint, repair, etc. to get the house ready for a new tenant. 

They are easy to replace, the challange is finding an exact match.I would google Armstrong ceiling systems or USG ceiling systems that would probably be your best bet.

I bet dollars to donuts she'll take care of it.

We didn't look at condos recently because of the high fees and risk involved but we do own condos in Wisconsin that do well.

I am going to ask to see one but I am willing bet there isn't one.