Custom Properties - If Statement

We have a standard drawing template that we've populated with standard notes among other properties to help streamline our drawing process.

We also have a set of standard stamps (text blocks with a bold box border) that we usually drag and drop onto the drawing, such as "Issued for Review" or "In Progress", etc... but we always have issues managing these stamps.

I want to have these "stamps" already saved in our template folder and linked to a "Status" property.

Using the "Property Tab Builder", I've created the following layout for example.

I'd like it to work as follows:

1) Select the status from the drop down list.

2) Based on the property value, using if statement or other method, a string of text is generated. See sample above.

Is this possible? Any idea's?

SolidworksDrawings And Detailing