Here is the background:Sales price $575,000, building square feet 1,719/land square feet 5,762Taxes are $3,204.07Property consist of commerical store front with attached rear residence and  detached 2 studio units. (2 buildings total)Permit history of the rear residence and detached studios are unknown and requires further research.County assessors office shows the property use type as commercial and buiding square feet at 1,113.Store front building was used as a bridal studio and owner lived in the attached residence.

I once had a lazy property manager who, instead of doing a move-in inspection, just gave the tenant a form to return at some unknown time in the future.

if the buyers who are calling to see the inside are unknown and the property is $$$, what's best way to screen them, ask for proof of funds or letter from their bank before showing?

Try to stick as close as you can to the budget, because unknowns are bound to happen and if you do come in below budget, it just increases your profit.Remember that your goal is to make a nice profit. 

Any investment that we make is leap of faith, a leap into the unknown.

It is simply plugging in the numbers but leaving the rehab costs unknown.

Repairs are unknown at this time but looking like less than 10k for repairs.

So, being the chipper and energetic lad that I am decided to venture into the great unknown and go knock on the door.

One big difference between the two is: building a multiunit is arguably a full time job - especially if it your first time; a lot of unknown variables, moving parts and unforeseen circumstances. 

Honestly, I think the idea behind it is to build fear and unknowns with brand new investors so they come back and want to invest in whatever expensive program offered... the guy who suggested 100 properties before even considering making an offer happened to offer $10k coaching via Skype or somehing...