@Colleen F. we lost in court using "deposit forfeit" language. 

So, my advice...stay in your own country to invest and stay away from places you cannot speak the language and from people you cannot hold accountable.

Oregon State University has one of the biggest Forestry Schools in the country if not the largest.. its like if you want to be a wine maker you go to UC Davis in CA.. if you want to be in forestry you go to Oregon state.. or if you want to be in Mining you go to school of Mines in CO.. etc etc.

I am not a CPA, but I'm fairly sure that is not universally true.

I live near Chapman University and Children's Hospital of Orange County.

We in our lease addendum have language that the property is X years old and may require components to be replaced which is not uncommon and no rent reduction or hotel will be provided.

As others have stated, a well-drafted LLC operating agreement should have language that would prevent management from withholding material facts and/or removal provisions for a manager who doesn't comply.

Are there any terms we should add to the transaction language to protect ourselves from the seller backing out of the contract?

I would do more research on YouTube university to analyze the property and then get familiar with your local area so you can be more confident with your numbers. 

Eric,Pueblo has a lot to offer - Arkansas River Walk, Pueblo Reservoir, Arts Center, Family owned restaurants, Arkansas River activities, close to mountains, Colorado State University -Pueblo Campus, Pueblo Community College, home grown produce - known for peppers, and pumpkins, less traffic, driving distance to Colorado Springs and Denver.