Hey @Michael Johnson, great post and very valid questions. 

I don't think there is enough information to give you a valid answer.If these units are approx 750 square feet as either a 1/1 or 2/1 - I think I would pass and only take it if the asking price dropped to $600,000 - $650,000If these are bigger, approx 1000 square feet and a comfortable 2/1 - I think I would take it.These are the comps for multi's in 32205 in the past 90 days2921 Olga Pl - $390,0002878 Selma St - $325,0001419 Wolfe St - $310,0001156 Denaud St - $240,0003333 Phyllis St - $82,700

You bring some very valid points... thank you so much again! 

You validated my concerns.

They're being shady about the warranty and at the moment I don't have access to the paperwork involved with it, so I'm really at a loss as to how to proceed.

We offered a 1 year warranty on our new construction homes, what (if anything) does your business offer your rehab buyers?

I now buy new with warranty.

They may have some morals and require that you disclose to the seller what the true buyer is paying or that you may need to have a RE license if you arrange a sale in expectation of a fee.Then again equitable interest is NOT ownership, so they may need a valid listing from a seller to market the property.But hey, as long as you can make a skim I guess it's OK.

However, since I'm buying out of state the point about knowing the neighborhood is a valid one and something I'll have to consider. 

I asked some Real Estate attorneys and got conflicting info.Anybody knows if a RE contract is valid without a Seller's Disclosure or has a similar experience, before I lose even more money on attorney fees?