It impossible to lay out pro's and con's of something without the details. 

As far as what you are asking, it will be very tough, and probably impossible.

Impossible to hang out in the yard.

That could be tricky because of her age, but it’s not impossible if she’s on board.

This is virtually impossible if you have a full time w2 job that is not RE related.  

It is absolutely impossible.

And not knowing their numbers also makes it next to impossible to know if you have a bad PM that's eating into your cash flow as well (Like Vacasa charging $800-1000 a month for elecrtic on a 4/3, 2000sqft house with a pool). 

Let me be frank, it will be near impossible to sell your 33% stake.

Well I purchased the power flipper program during my research as a newbie getting into real estate and I will tell you that while there are some informative modules on there, the program is set up to limit you in the way you find and submit deals, thereby making it virtually impossible to make any money back. 1.

It is risky for all involved but its not impossible to have a mutually beneficial arrangement.