If using a lender this is a non issue.

NO verbalization. 

Non-occupied conventional loans will typically require 25% down.Again. discuss this with your lender and be honest about your intentions...they may have a work-around. 

Lenders know this, so rates on non owner-occupied loans are higher than primary residences or second homes.  

If one partner puts in more money than the other, you could change ownership interests, you could treat it as a loan, you could reduce income/profits from the non-contributing partner until the contributing partner is paid, etc.You will want to discuss with each other who will be doing what management functions and whether that is worth anything to you both.

Even non-recourse debt still leaves the asset at risk if you're dealing with an inexperienced or unknown syndicator/sponsor. 

Now the growth of the base up there and housing shortages you may have some long term/ “off season” (non-summer) options, that wouldn’t been a bad thing but w the harsh winters, and likelyhood of cabin fever, is think your market is extremely small and even then, my requirements and checks would wipe out most of those interested.I wouldn’t waste my VA on it though.  

Yes I do realize I still need to manage all the non PM parts and those are actually the aspects I enjoy more.. just wondering what renter interaction will I need to do as a landlord, even after shelling out for PM.

If there a "Legal Aid" non-profit group in your area maybe you could contact them for free help or contact a lawyer.In my State, I believe I could evict for illegal activity because my lease says that I can.One of the problems with illegal drugs is that the landlord could lose his property if someone is dealing there which is unfair, in my opinion, to the landlord. 

Any folks have insight into a local bank in Columbia SC area that is willing to do cash out refi on a non-seasoned rental property?