Am I crazy to expect a VA to have knowledge of how to transfer the information and manage the CRM right off the bat, or would I have to have a good understanding of how to run the CRM prior to handing it off.

What you are describing is a drop down entity transfer.

I've selected a market out of state that appears to be good for the prospect of long term rental ownership, and need to start taking the next steps.

As to ownership you do not own the house untilConfirmation.

Tenants will pay March rent to current owner and you will be credited for the rent for your proportionate ownership for that month.

I would have all of the ownership of the building if she fails to pay at any point.  

Update after one week: Closing purchase costs came in around $8,000:$4,500 in lender fees/points $2500 in title/legal work (including multi-member LLC creation) $1000 transfer feesOur total cash outlay up to this point is $18,523 and we owe a note of $119,283 at 9.375%. 

Better to build your own equity through the debt pay down, enjoy the tax benefits of ownership, and garner the equity of an appreciating asset.

The "clock" is tied to your loan, not to your ownership of the property.

Once they have ownership of the property, there are multiple exit strategies.