And then how do you value the property based on the density etc? 

Based on the OPs description, the Grantee in this case may just do that.I'm not an attorney and this isn't legal advice, just my opinion. 

However, we have probably about an acre and a half in the back that I think would be perfect to develop into a storage unit space (easy access for any size vehicle, etc etc.).

This will be essential for managing remotely.Property Management: If you are unable to handle the property in person, think about working with a reputable property management firm.Decision: The decision you make is based on your degree of comfort, your ability to take on risk, and your readiness to put in the time necessary to develop a network.

I do have a call into them but haven't been able to touch base yet. 

I am a CT based real estate investor and I own a PM company.  

Let's touch base next week.Thanks,

When buying a property with 20% down, your appreciation is based on 100% value.

I will continue my homework based on your recommendations.

I am based in Oregon and I am planning on diving into the world of out of state investing.I have bought and sold a couple of  homes here locally but would love to start growing my out of state portfolio which I have very little experience in.