@Ibrahim Mawri my main concern is on exit strategy. 

The concern with out of state investing is your money goes to down payment and property management.

Realize these same concerns apply to other Syndication asset types also.Do stress tests against the deal for both hitting the financial targets and also the Capital Stack impact.

Since you admit you know very little, why don't you analyze what's gone wrong with this PMC and interview new ones to address your concerns?

At various times during the past 25 years he “specialized” in oil and gas drilling, franchise sales, surgical center investments, office centers, start up incubators, vitamins, mobile washing equipment, cemetery syndications, residential mortgage brokerage, commercial mortgage brokerage, insurance as an investment, long term care insurance, and property development in Mexico.  

I'd love if the property would cash-flow after we move out, but the neighborhood and appreciation potential is the biggest concern for me.

That's what has always concerned me with getting a property subject-to. 

Here is my current set up:1) ShowMojo for managing the self showing listings (It has some self showing anti-fraud services, syncs with smart lockbox to issues codes, etc etc)2) CodeBox Jr smart lockbox where I have the keys3) ReoLink Go Plus Cellular Camera with a $5 per month T mobile data only sim card.

Do the laws vary from state to state, and if so, is anyone familiar with the laws concerning this in West Virginia? 

And I generally require a sponsor that has full real estate cycle experience with little to no money lost, low leverage, high skin in the game and reasonable fees and promotes.However, other investors will look at these deals as bad/too boring for them because they are more aggressive and not concerned about the risks of default, refinance, interest rates changing etc.