So be careful and make sure you interview the Expediter and that they have had success in obtaining the Letter of No Objection.As far as evidence that you need to gather, look up your buildings TAX Class.You will find it here: Building Information SearchHere you will see something that looks like this:NOTE that while this is a Dept of Buildings Web Portal, what I have circled in RED is the Department of FINANCE Building Classification.You may not have a CofO, but the Dept of Finance maybe taxing you as a 2 Family.

In our area it appears to be easier to find rundown single family properties than it is multifamily. 

If its a New Western deal though I am extremely dubious .. those require extra due diligence as the deals I see coming from them one needs to verify every aspect of what your being told.Due to the response of a poster above, it appears I was not very clear in what I was trying to say.I was trying to say that most of the people cheerleading like finding off market deals is easy Haven’t done it themselves. 

Accept whoever applies" is an idea that would cost you a bucket of money in the long run.Bankruptcy is usually a "no" unless it appears to be a one-time event caused by something out of their control such as a massive medical bill or a business failure. 

As for your other questions:It is currently on the market and has been so for several monthsI don't have anyone representing me yet...trying to learn as much as I can before taking that next step with a realtorI don't know why the owner is sellingI don't know the standing of the tenantsRent appears to be at marketAssuming 10% vacancy rate, my calculations show that it would indeed cashflow.  

I'm a web developer/ real estate investor and I just started playing with Dapps, is anyone else working on similar application?

But I believe that if you're not violating any terms, not in a restricted industry or involved with anything deemed risky by Stripe then you're probably safe.It appears their move to Stripe is for accelerated payment processing, which is interesting since they acquired eRentPayment and Payment Report.On surface level it might be they're adding Stripe as an option on top of their existing infrastructure.

Most if not all of my income appears on my Schedule E as rental income from a college rental portfolio that I self manage.

It doesn't appear so to the layman. 

Good day, Derek,Based on what you have presented this investment appears promising, offering a strong cash-on-cash return and ample opportunities for value creation.