A few specific concerns would be the length of the lease, the credit strength of whoever signs it, the strength of the tenant's business, and any rehab or Tenant Improvements (TI) discussed in the lease. 

As rates increase, the savings of considering a 15 versus 30 year loan increases.

All need improvements ($5k-$10k/ unit) and rent can be increased substantially.

Ive heard conflicting opinions about residential 4-plexes versus commercial 5-plexes (loans, forced appreciation, etc).

What are the pros and cons of such deal versus a comparably sized and located investment in a classic multi family (...where you own the building and land directly).Any resources you guys have that I can educate myself on?

You make up for it in steadier appreciation versus most markets.

The main reason why homeowners opt not to pull a permit is because building improvement will increase property taxes.

How does deliveries versus demand in my market look over the next few years?

@Bill Hampton if I may ask a follow up question, at what point should an individual consider using a CPA versus doing it themselves?

Funded property improvements with cash-flow from the building.