(Near Universities and companies) I'm going to inspect the books/records of the condo association prior to placing an offer. 

Sales price/sqft broke multiple family record for the entire zip code at the time.

This home again broke neighborhood records at the time.

Easements are recorded in the real estate records, just like deeds.

Broke the price/squre foot record for the neighborhood Lessons learned?

As far as risk vs reward, I can make the argument that it’s “riskier” to keep your money in a bank (FDIC insured) while it’s getting devalued at record levels each year.

This report pulls public records from all over the country. 

Realtor didn't disclose the future zoning, they probably used what seller said and public records.

Making sense of the deal and understanding their track record is important of course, but I believe you should develop TRUST before you invest.

I would keep buying 2-4 units until you max out your DTI and then switch to looking at larger units as well (take advantage of the low interest loans while you can and build a track record for commercial lenders).