I have a bi-yearly contract with them to maintain the units and they currently have a new policy where they check for mold in the duct work by an intrusive method and they are finding slight mold growth and are recommending this device called Nasa Air Scrubber (~$1200 per unit). 

That usually requires 2rounds of correction. initial subm, 1st corr, final/partial approval?

It might be worth spending a couple hundred dollars on a collection attorney to make sure you're doing everything correctly.  

I'm waiting for the market to correct, and considering building 4-plexes in the outskirt areas mentioned above.

Am I correct in saying the “PA” you mentioned is the purchase agreement?

@Mindy Jensen Yes all my information is filled out correctly.

If so, then I would have to calculate the value of the property based on its current numbers rather than comps, correct? 

Correction will come to that town, and when it does there will be stooooopid amounts of money to be made, again.

At least then I can say that I tried to show some loyalty, and this method of using an actual PMs structure might be a bit more constructive than trying to negotiate points back and forth with him.

I had to have it remodeled before it could be rented. 99.999% of the time this method works though.