Abstract: The N*(1535) can be dynamically generated in the chiral unitary approach with the coupled channels, K0E+; K+E0; K+A, and eta p. In this work, we evaluate the correlation functions for every channel and face the inverse problem. Assuming the correlation functions to correspond to real measurements, we conduct a fit to the data within a general framework in order to extract the information contained in these correlation functions. The bootstrap method is used to determine the uncertainties of the different observables, and we find that, assuming errors of the same order than in present measurements of correlation functions, one can determine the scattering length and effective range of all channels with a very good accuracy. Most remarkable is the fact that the method predicts the existence of a bound state of isospin 12 nature around the mass of the N*(1535) with an accuracy of 6 MeV. These results should encourage the actual measurement of these correlation functions (only the K+A one is measured so far), which can shed valuable light on the relationship of the N*(1535) state to these coupled channels, a subject of continuous debate.