There isn't much to keep track of-did they pay or didn't they. 

Although you live miles away, plan a business trip to the area and maybe hire a local attorney to help you track down the owner or owner's relatives and make an offer.  

We managed not to move any lighting in the reno pictured below using one track and 3 linkable recessed lights.

I don't want to have another full time job and neither do a lot of passive investors out there.I'm working on building a longer track record because I know it will help me in the long run to earn people's trust.  

Your analysis is right on track and  @Don Konipol provides some great insights on getting the most benefits our both strategies.  

And you will be on the right track.

It has proven to be more difficult to set up than expected mainly because of having to use a third party company for a physical business address1.

This is something you will likely need to continue to track.

There's no way I could keep track of that.A few days later, she called and said "a guy at work" told her it was THE LAW that she can change her due date once per year.

Am I over thinking this, or am I on the right track (referring to whether I should account for inflation in my CapEx numbers)?