Part of this more stringent investigation should include determining the Market Value of the property and the Market Rental rates.  

I will investigate more deeply why performance is currently so far below proforma.

The preliminary  plan is to flip the property and split the profit after actual expenses.

I've done some preliminary internet searching for a system but with the abundance of cheap technology out there am having a hard time determining a good stable solution. 

When I get calls from sellers I want to be able to filter out the ones that do not have equity in the property.Investors have suggested to let the title company worry about this since they do a preliminary search...but that would mean it would cost money for every search on every prospective seller and of course most don't have enough equity in their property.                                                 

Either way, there is some good information in that thread for both sides of the argument for you to start investigating

The preliminary numbers look awesome.

From my extremely basic and preliminary calculations thus far, the property would struggle to cash flow at the current price.  

I've included some preliminary questions/topics, but I know I'm missing a lot of important information.

@Jose Corbera You can spend a little time on Google and see things about a company bankruptcy, hidden camera investigations, etc.