I am very positive in the long term but positive development like this is very far away from the block by block dynamics of St.

With a family transaction the family dynamics come into play.Even if you agree on a price, if it turns out that you sell them five or ten years from now for a nice profit, is someone going to think you own them a piece of that? 

change the economic dynamics.

Of course, there are all kinds of family dynamics to take in to account, but that is a risk only you can assess. 

I have heard a story or two of people having the management company sending video walk thru of day to day operation but a video may not be the best way to visually see things.

To get a visual, is a basement dirt floor, no entry, but private; 1st floor kitchen & living room, however they just threw a stove & frig, in a room, so, I would have to put in an actual kitchen; 3rd floor 2 bedrooms & full bath (its nasty and needs a full gut), 4th Floor is an attic that is like a full floor so it's a nice perk to store stuff; but the condition is beyond what I can describe...it's like you owned a building for 50 years and you did no renovation EVER and that's the condition. 

There is an operating agreement in place, and everything is going well on the family dynamics side of things.  

The BP calculator does not know unique location dynamics, supply and demand, redevelopment, gentrification, demographic patterns, job and population growth or lack of, schools, crime...you get the picture.

You can do visual inspection first though for certain properties.

@Jonathan Patterson depending on your family dynamics some strategies may be better than others.