Rent is so crazy here young professionals are willing to pay 800 a month for a bedroom with shared bath.

As a short-term rental, it would make $4,000 a month during the "season" (five months in the winter) and about $2,500–$3,000 in the non-season (the rest of the year). 

He asked me for the following-1: Company certificate (for companies only)2: Drivers license/SSN3: Utility bills4: 1-3 months statement of account5: Documents of the property to be used as collateral (if any)6: Provide Loan origination cost for the processing and transfer of your loan funds 7: Bank details for funding (closing)I have their website, but how can I fortify myself so I’m not being scammed.

You don't need to know everything to get started; you need a foundation to build on and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

IF there's no interest in his property, and a month or two goes by, he'll be begging you to take his asking price.

For an expected improvement cost of 180,000. 13-month completion time across the 17 doors.  

The greater ability to repay, the greater chance of qualifying. 12-24-36 months of reserves are a common underwriting condition. - Two appraisals.

Positive is that i could potentially remove that month cost from the bottom line. 

Both units are rented with long term renters and they bring in $2450 a month.

That's how I invest every month, with relatively small amounts.