If-Then used lookup custom properties and apply text to dwg

Is there a way to use if-then statement to submit data to a text field on a drawing based on data selected in the model.  I created rev control button list and DCO# in relation to the button.  I would like to add a text field (custom property) that states if Rev Control = A, use RevA DCO#, else use B and so on.  I tried created a custom DCO#  textbox in the property tab builder and entered the If then statement there with no luck.  Not sure if i was using the proper syntax. 

 

  from model

 

from model

 property tab builder