At first, I was looking on the counties online public record but unfortunately I will have to search for individual addresses and after doing some more research I came across that is possible to get a listing through the MRIS.

Now, if the 5% is non-refundable, that would be a red flag for me, and I would walk.

@Adebowale AsayaWhen you mean commercial property - do you mean a non-residential building?

A relative found out recently that the lawyer who recorded a lien for them put his law office as the notification address, not their home address.  10 years later when the guy stopped paying, they found out from the records' office that the home foreclosed and they never received notice because it went to the lawyer's office, now non-existent, not their home. 

Property taxes are public record, so you can use previous years paid and estimate a slight increase.

Here are my most recent 3 commercial loans, all closed Feb 2018.1. 3/1 hybrid arm 4.19%, 3 years Io, 30 year final, 3-2-1 pre pay, no origination, 62 ltv , non recourse2. 5/1 hybrid arm 4.00% no IO, 30 year final. 4-3-2-1 pre pay, no origination, 70 ltv, recourse3.

For example, this is non-recourse debt.  

Check city laws, but submetering water is normally okay by terms of the city, as long as its public water and not a private system. 

This other layer has listings of larger-50 plus units- but also 20 unit buildings, there are many non-residential listings in this layer-store fronts etc.

Robert, the owner of the company does not appear to be "disqualified" according to the IRS defenition (https://www.irs.gov/publications/p560#en_US_2016_p...) however because he is related to you the transaction may create conflict of interest, which is prohibited.