I'm concerned that you are being ripped off, frankly.

But that doesn't sound like the case here.Having said all of that, it is concerning that there doesn't appear to be open communication between the PM and you.

Not overly concerned with appreciation potential. 

They have no state income tax and their fees for vehicles as well as auto insurance and health insurance are extremely low.To qualify as a resident of South Dakota, one needs to go to the state, stay in a motel one night and go to the Department of Motor Vehicles the next morning.

I'm local in Vegas and would be happy to connect with you to help point you in the right direction concerning investing and/or flipping locally. 

I would be walking away and selling since my concern is not your financing but cash in my account!

Just a warning though, in my area duplexes are often held extremely long and rarely sold, finding good duplex comps to compare is difficult in some areas.

One of my concerns is depreciating the asset.  

Hello All,I just joined this community because I have a strong concern over what a landlord is requesting of me. 

We are extremely excited to take this next step to financial freedom and can't wait to own property all over DFW!!