On a home that had been properly rehabbed, this should be a sound financial investment.Considering the fact that you are investing in real estate with unknowns - tenants, unforseen maintenance issues, insurance claims, etc - to me - a 4-5% return doesn't seem like an adequate return on my investment (risk vs reward).

Sometimes there are errors in public records (example: inaccuracy on a deed, unknown liens, forged documents, boundary issues etc).

Prior to inspection, your response is that you have never tested it so unknown if lead is present.

I am new to investing and wanted to find out if other investors would take the risk with the unknowns listed on the seller inspection report pasted below (especially the plumbing situation below since I am unable to get the water turned on) or if it isn't worth it/it's too risky?

It will come at a cost of fees and some time though.Now umbrella insurance and liability insurance on the property is definitely an obtain and increasing the policy increases your protection but one thing that is always unknown is how much a claim will be. 

First, it doesn't seem to want to keep me logged in, for some unknown reason.

Of course you'd be inheriting any unknown liabilities of the LLC, and you'd be assuming the llc's basis in the property and depending on the LLC original purchase price and depreciation taken, a much lower basis than your actual "purchase price", increasing your taxes when you sell.

Needless to say, the unknown is scary, but it's intimidating as hell.

Really my biggest unknown is what to do after my first property.

There are even a lot more questions due to the unknowns concerning the actual ARV.