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There are a lot of ways to tell but I don't know most of them.Do you see a "K" in the VIN? A few unreliable but quick ways to take a guess are checking to see if it's a 4bbl, the air cleaner sticker, and I think the color of the valve covers.
ORIGINAL: Sn00ganS1337
How do I know if it's the model with 215 HP or 271?
Look at the bill of sale. If he paid a fair price for a nice early Mustang then it is not the Hi-Po. If he paid an arm and a leg for a nice early Mustang or even a crappy early Mustang then he may indeed have a Hi-Po. If it were a Hi-Po you would likely already know it.