That makes sense however does the friendliness of a state toward a landlord come into play in your estimation?

I personally would not want to buy into a syndication where the manager is "playing" PM as well.

There are lots of factors that will play into this but we don't know a lot about the property. 

Finally, use all these numbers, including purchase price, repairs, rental income, expenses, and sales price or cash out refi after X number of years (you can play with these parameters) and calculate IRR on the series (can use the excel function to do this) ... this is your total return, over the life of the investment, including ALL sources of profit.

Anything more than that will not be enforced in court by the magistrate, and may even cause the magistrate to decide the landlord is not "playing by the rules" overall, which might mean a judgement against the landlord.Regarding eviction in NC, my understanding is that the landlord has to do all of the following. 

im playing with using a structure for purchasing commercial or commercial with rental units that involves an investor putting up the down payment and my side holding the mortgage.

I think they do hourly plus bonus for any closed leads.

I look to get into the game they're playing.

I think the play with holding land long term would be to find a rough area that is in the path of re-gentrification. 

If you practice and role-play enough, you can have conversion rates of 25%+.