I don't know of a way to actually link the state to a property.
but what you can do is have the transistion(s) assign the correct value to the property.
You can use a transition action to write a value to a variable, which is mapped to the custom property. Whenever a file goes into a state, the action changes the 'Status' variable and the property in the file would update because of the mapping.
Hi Ryan -
As Brian stated, you can write the value to the property on the data card variable via the transition.
You should modify the data card to add the control to hold the variable value, set Work in Process as the default value and make it read only so it can only be changed by the workflow.
See the attached video for details (no audio - video only).
setstatusoncard.zip 21.2 MB
Thanks everyone. I figured it would have to be done like that but thought it was worth asking if their was a way to eliminate an extra step.