Factual error: The tiny missiles on the F16 are shown as being attached to some sort of flexible metal framework which bends and shifts as the plane moves along the ground. The F16 is a supersonic fighter - any such thing would be ripped clean off the wing at speed. The missiles carried by the F16 are attached to streamlined 'hard points' under the wing, or the wingtips themselves.
Factual error: When Mike Douglas and Danny D. are trying to get into Omar's castle, they argue with Rashid. Rashid orders the guards to ready their weapons. As the guard to Rashid's left cocks his M-16, you can see that the bolt is already open, so the rifle didn't need to be cocked. Also, you can see into the receiver and there are no cartridges in there - and you should be able to see the one at the top of the magazine.
Factual error: There is absolutely no way to fit three people in the cockpit of a single seat F16 fighter. There is no large empty space behind the pilot's seat - there is a bulkhead, and behind that a rather obtrusive jet engine. Even the two seater training version of the F16 cannot accommodate three people - there is no space behind either seat large enough for a third person, which this mockup has.