I've been watching some youtube videos, and have a few books in mind.

I would suggest a detailed application form that includes the required permission for credit checking as well.

Check out these analysis videos Alan https://www.youtube.com/watch?

I went to go look at a flip once in a "transitioning" neighborhood.... didn't take long for a crazy guy to come approach my realtor and explain in great length and detail how he'd burn the building down if we bought it.

@Dave Foster is a very knowledgable intermediary who is active on this forum and can probably help you out with some details if that approach is of interest to you.  

For example, if a buyer is offering $200 per square foot and the medical condo is 2000sqft (as detailed on the city records) and there is a 13% ownership in "common elements/common surplus/shares in common expenses"... is the purchase price based on the 2000sqft and the common space is just included as part of the deal or is it based off of the 2000sqft plus the 13% common space?

Bruce, without knowing all of the details, the price seems right.

Will/Ernest, I'll send you a message for more details.  

Thank you so much for such detailed and quick responses!

I thought that was good info from @Rick Bassett but I was a little confused by the conclusion that is was barely worth it when you consider the extra work.You didn't detail or even mention in your post how much extra work or what that entails.