But once your chart of accounts and classes are properly setup it is helpful for generating reports to see where/how money is being spent and coming in and lots of other itemsSince you are using PM's, I would expect that they would send you a year-end report in addition to your monthlies. 

A professional understands the laws, has systems in place, knows how to properly screen, etc.

How would I go about getting proper documentation to prove ownership?

The city is still continuing to develop, since they've only completed about 50% of the approved construction projects.

A high-low price range would be developed to help you out.When you are first starting out just figure any improvements will be the average.

Although I'm sure we all do this mentally I was considering developing one in print to go along with spreadsheets to make sure there isn't anything overlooked when considering a property. 

I plan to go through proper due diligence to assure it provides great cash flow.

Most advice I have read is to start looking once you get past the 5-8 unit mark but honestly a proper sized umbrella policy will serve the same purpose.

I guess for anyone here to properly assist you and give you advice, we'd need to know what your intentions are.

They sold me on the fact that they are a Military Family and I did not do my proper due diligence.