I would love to see a sample of the 2-page document explaining the arrangement. 

The active participation standard can be satisfied without regular, continuous, and substantial involvement in an activity; the standard is satisfied if the taxpayer participates in a significant and bona fide sense in making management decisions (such as approving new tenants, deciding on rental terms, approving capital expenditures) or arranging for others to provide services such as repairs.An IRS training manual states:As long as a taxpayer participates in management decisions in a bona fide sense, he actively participated in the real estate rental activity.

Are there any verbal agreements or arrangements between the current Landlord and Tenant?

Lastly, you have your loan arrangement with the bank where you might be able to hand the keys back to the bank in lieu of foreclosure.   

Equally responsible for late fees ect.So all you need to do is take the money, you don't care how much one pays verses the other, they make that arrangement among themselves. 

For the local wholesaler, the business arrangement would depend on that person's needs and skills and I would fill in the gaps (marketing management, follow-up systems, lead management, etc).  

If you are simply hoping to get a peek inside the house, then arrange to meet the PM for the inspection so you are there at the same time.

When you do meet, try to arrange the meeting in neutral territory such as a coffee shop instead of at the rental property.Step #4: Deliver a written eviction noticeIf all else fails, the next step is to deliver a formal eviction notice to the tenant.

@Ian G.Off market doesn’t equal a good deal.A good agent can guide you and even evaluate something that’s off market and have the commission added to the sales price or some other arrangement I see most deals in my market trade in the MLSThat being said door knocking is always a good strategyCalling for rent signs

I have a builder that I work with and have a similar arrangement.