The initial investment will be more involved.  

All of this anecdotal information tells me you are way to close and personally involved in this situation.

There's a word for that.With any lease involving more than one signer, include the words "jointly and severally" in your lease, along with a plain-language explanation of what the terms mean:  even if your co-tenant moves out, doesn't pay, causes damages, incurs violations or fines, etc, you are BOTH responsible.

@Trevor S Foster I would NOT proceed any further until you get a knowledgeable party involved in the transaction to sort things out.

If you ask very specific factual questions that don't involve any protected classes (which includes felonies) we can answer.

Plus if it was local I feel I would be far more involved than I want to be with repairs and upkeep.

When in doubt, pretend your customer/client/business partner is your grandmother and this deal involves her last nickel, what would you do then?

Everyone thinks that they can do this, and many don't truly understand how much work is involved and the team that is required to make a deal happen.  

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

@Marc Winter Are both people involved in the fighting on the lease?