We want to buy the house with them as the owner, then put it in a land trust immediately so that when the inevitable occurs, we acquire the property, and so there is at least one layer of asset protection. 

Example, we bought a hotel that had a cap rate of 4% based on their financials .

What are the financial terms?

Look at the deal - it either makes financial sense - or it doesn't! 

In the meantime, the owner is too far underwater (or dead) to do anything with the property.Rarely do owners who are financially sound just let a property sit in disrepair.

Sure, you can classify yourself as a real estate professional or setup a property management component and pay yourself a salary that could convert that passive income to earned income, but it generally does not make sound financial sense to do so.The gig work could potentially support a Solo 401k.  

Buildings look to be in good shape with 10+ cap rate ,all the financials looks great and I would be hiring a property manager to manage the property but me being from out of town wanted to get a general feeling for those area and the type of experience you guys have had or any other cities that's with looting into in Connecticut .

I am looking for an investor friendly CPA around the Metro Detroit area who is familiar with setting up entities such as LLC and Trusts to help me get my financial house in order.

If you are thinking about the long term business plan, thinking about how to build bigger wealth through the aggregation of your assets and using that leverage to get bigger, faster might be a good idea.  

I wouldn't consider them the only method for investing, but in the short term have found them to be more lucrative in returns than all of my other paper assets consistently.