With the door open, the controls appear to work as normal (power button and cycle selection knob appear functional).  

Kind of a like a cash-for-keys.But if that doesn't work and he is not willing to play ball (pay late fee) then it seems pretty clear cut.

Yet, if I end up with a property that is not what I thought it was, then resale will play a vital role.  

I played with the numbers.

We are currently putting together our power team.  

Does land value come into play or is it all jus CAP rate and NOI for the value?  

There are lots of towns like that all over the country in "fly over country".I think the real estate play there is to buy cheap, rent at good rents like 2% or better, and hold the property for the cash flow. 

I put down $10,000 on a 4 unit building and $8,000 on the duplex.  . so that still leaves me with $12,000 that I can play with and hopefully get another property owner financed . 

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.