I wasn't even going to respond until I read your last post;  but if I was in your shoes, I think I would've gone mental on Andy by now.  

If I were in your shoes I would request a fee estimate from your lender  

Small owners are notorious for being "shoe-box owners" which means when you ask for their financials you get a shoe box full of receipts :-DRealistically, you don't need anything from the owner except the current rent roll.

They interview all types of folks who have been in your shoes too.

@Jadan WilliamsIf I were in your shoes, I’d start by clearly defining my investment goals and identifying target markets with strong job growth, population increases, and development potential.

Yes, the other stove was probably not working anymore because of their lack of cleanliness, but how would you feel if you were in the tenants shoes?

Of course there are very veteran investors here, but a lot of them started in the same shoes as us.

If I was in your shoes, I'd try to get you and the PM pulling in the same direction by paying a flat fee of 12-18%.

If I were in your shoes I would purchase it in a single LLC with you and your partners as 50/50 owners. 

If I were in your shoes I'd be trolling the assessors site to actually confirm your thesis.