Quote from @Matt Wan: Can I purchase a property using a traditional mortgage without being physically present for any part of the process?

I'd suggest just creating one on your own - with excel when you create the template it's both the way you want it, and then also you fully understand it.  

My friend and I are planning to buy an investment property (My second his first). It would be his primary residence so most likely a duplex or triplex house hack. We are running into a roadblock of him getting approve...

Many property managers tend to focus on physical occupancy rates, but what truly matters is the economic occupancy rates—the actual rent collected.

@Brice Alef-TorrisiHaving one checking account per property is an excellent way to keep your property finances separate from one another and your personal finances.

Just so you know you can use a USPS PO Box as a physical street address now and receive UPS and Fedex there also. https://ribbs.usps.gov/index.cfm?

I see some larger single family homes in areas that appear to be zoned R2 that, at least from a physical perspective, seem like they could work for this.

Being in NY maybe something to do with physical document transportation?

For instance, said property manager manages maintenance issues, problems that arise during bookings, basically anything that needs a physical person at the property, while I manage the rest?

@Drew Sygit, thank you for the excellent reply!