Bare with my unintelligence but this is true.

Same is true for the top unit (is in an attic?

That is absolutely true.....and I see that so often on these forums.  

That is generally true.

It was great in that it got me thinking that i need to start buying more true assets, and making my money work for me.

Just remember the basic rules of investment. quick = risk..... too good to be true (probably is)..... property is best seen as a medium to long term investment.

I would sure appreciate some reference to legal statutes and that because I've read dozens of different opinions and I can make no solid sence of the true answer. 

Everybody says management contract is between seller and manager, which is true, but not logical on why that would absolve the buyer. 

Back at the LO assembly line I was trained to just write what the underwriter wants to read that is also true to the best of my knowledge, give it to borrowers to "check for accuracy," and then sign what I wrote.

I want to build more precise worksheets so I can have a better idea of the true cash flow in the future.