The upside is that you can cast your net wide, however, the downside is that you've got multiple state licenses that have continuing education (CE) requirements and of course costs of joining local boards, etc. depending on whether their in very different locations. 

I am the one who will have the time, find the deal/deals, further continue to educate him on the real estate industry, has the connections with other investors and sponsors, will be handling/managing everything in that regard, etc.

Start with the education part.

Paid education!

Persistence and education. if you have specific questions , feel free to ask.

------as long as I don't go over that 75% loan to home value threshold I may be way off, if so please educate me. 

Someone could talk to you for hours about that subject alone.Take time to start educating yourself.

@Chrissy Severance A lot of good suggestions above and the CCIM courses are a great in depth education on investment properties. 

Make sure that you've compensated for your lack of experience with your knowledge and education and have enough capital set aside so you're ready for any unexpected expenses!

Having said that education and networking will be two things you need to do to minimize your risk with investing.