You get the worse terms because banks see it as the biggest risk.

But I am also taking on a bulk/all of the risk financially.

My background is in construction management so not much will scare me off; as long as I can quantify the risk and make the numbers work.   2.

Would you still take the risk of OOS investing even though you do not have the benefits of managing in person?

Much like title loans etc.. you need cash today.. don't risk note not paying we will take it over.

The replacement program was initiated because certain fire extinguishers can become clogged or require excessive force to activate, posing a risk of failure to discharge.

-BrettHouse hack.Take your first job, find a duplex or quad and then buy it with minimal down, live in it, rent out the remaining units, and if you are really serious, rent out rooms in the unit you are living in.That will get your foot in the door and it minimal risk to get started. 

Will depend on several factors like the type of property, type of tenants, your risk tolerance, other assets you own, your estate planning, laws where the property is located, etc.Any lawsuits would be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced).

I believe on any type of government payments, the tenants are required to be respectful of the property or they risk losing their benefits... 

You'll learn a ton with less risk; and live to invest another day.Good Luck!