It's a great way to get started and with your background you'll be a step ahead.

Just make sure they are reasonable and in step with the area rates.  

It feels like you’re missing a step based on your description.

I’d like help double checking my numbers, reviewing the contract for AS -IS purchase, my next steps I.e. escrow or additional documents.

If real estate is really something you want to pursue you are on a great website.  

There are multiple factors including preferences, liquidity, budget and time horizon.My article: Choosing the Right Real Estate Market To Invest In: The 4-Step Guide to Success should help you get started. 

That's stepping into the deep end of the pool without floaties if you ask me (I know...you didn't).I'd follow Wayne's guidance and if they are the one's filling it out and have that level of disconnect at this stage of the process, I'd get another title company.On another note, if your offer is $450M and the BPO is $650M and the total debt is $850M, I think your going get to a point real quick like where this deal will fall apart.

Your best bet is to find a multi-family property that is mis-managed, has below-market rents, or needs to be renovated; then you can take the steps necessary to improve its performance.

I'm trying to figure out if there are legal ramifications for this type of thing and if so how does one go about pursuing it?

I commend you for taking that crucial first step, and that is reaching out on BiggerPockets and letting other experienced investors know you are in the real estate investing business.