Even if there is a monthly or quarterly lease payment, you cannot simply demand they now pay you.

It doesn't matter what the service or product provider is . . . that's simply too long of an agreement . . .

Financing/loans are ignored, your gain is simply determined by your sales price (less actual closing costs) verses your purchase price plus rehab costs (basis).

Just any holes or concerns that I should have so that I could make an informed decision. 

Simply ask the sponsor if they would be open to connecting you to their existing investors who've known and invested with them for a long time.

I want to know if anyone has been in a similar situation, and had to climb out of a hole like mine into this interesting world of real estate?

My wife and I view our home equity as simply the cheapest money we can borrow and we're comfortable using some of it towards investing.

All but two of the bedrooms have more of the insulated duct material blocking the entire vent a short distance before the air supply vents, with only a small hole cut out of them--probably 3" by 6" in the bedrooms, and down to about 2x5" in the bathrooms. 

A breach of the terms within the lease simply gives you an opportunity to pursue legal means to obtain compliance or relief.

It's about as real as real estate gets...you simply never see this on the A-class side...it's vanilla plain...boring as hell.