Without checking the title yet, My question is, should I still possibly pursue it under which circumstances?

If you can check these boxes, you're going to be starting off in great shape. 

You write a check at closing, out of "cash on hand".

I would advise to go check with the City.

Get "good funds" (Cashier's check or similar) or sit there until a wire transfer goes through.

Taking time to write out a plan, instead of being handed one; self discipline as opposed to having a set of tasks done before my next check in with the "teacher." are probably equally effective if you take two people with the same level of motivation each prepared to invest the same dollar resources in their venture. 

I will check my insurance policy and see what's covered. 

Check in with your local Chamber of Commerce and ask about real estate groups or mentors. 

Hi Jason, I'd highly recommend checking with the sellers to find out if the condo is warrantable or non-warrantable.

Or.... check this out - sell two properties and 1031 both of them into two more properties.