We were able to get a home equity line of credit, so if we wanted to, we could essentially put no money down and use the income from the property to pay this and the mortgage off.

If a quit claim deed was used to transfer title in a normal sale one just wants to make sure the chain of title seems clear and that the owner issuing that deed had clear ownership.This is why we have title searches done and pay for title insurance to research these sorts of things and to protect us against the oddball unforeseeable circumstances.

@Warren Barton PM should pay the person / entity that holds title to the property and is listed on lease. 

There are onsite recreational facilities.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

Could the terms create a favorable reason to do the deal so that in 10 years it would be helpful in our retirement... for income or to sell to take equity to pay down another property.  

The best thing to do is contact the county tax assessor explain the estimated purchase price and ask how this will impact the annual property taxes.

Not having to work in this example means having the 15 rentals producing enough cash flow to pay all their costs, including all 14 old mortgages and the 15th (new) mortgage that is refinanced each year.   

If you see window units, you can assume you will be spending a good chunk of money up front to pay for an AC system.Be aware when a homeowner has multiple cooling systems for their home.

Anyway, the 2 cities I am interested happen to be in states with HIGH property taxes.

Do not renew their lease, and if they dont pay, serve them notice...There might be no reason for the resistance besides being incredibly difficult people who will take all your energy from you.