I do have a “safety” stockpile account where I store money for these purposes: taxes, returned security deposits, etc.I have a w-2 job and am having taxes taken out for that.

I've seen a couple of properties in Springfield especially with a sign from the county, something along the lines of "this property is an environmental hazard due to lead, unsafe for human occupancy, especially for children under the age of 6 and pregnant women..."

We had to wear suits, respirators, safety glasses, and gloves.

@Ned C. how does one get free rent claiming other problems with a house I would think this is only possible if there is a health hazard at the property but if they are claiming that then move out? 

The lender pays them with your money instead of you paying them yourself.escrow analysisOnce each year your lender will perform an "escrow analysis" to make sure they are collecting the correct amount of money for the anticipated expenditures.escrow disbursementsThe use of escrow funds to pay real estate taxes, hazard insurance, mortgage insurance, and other property expenses as they become due.estateThe ownership interest of an individual in real property.

The reason being there is not really a "margin of safety" of only $40,000.   

On the one hand, safety is paramount.

Update: We have requested a mutual release of contract due to fears for my and my children’s safety since I am the property manager and complete most small repairs myself having my child with me. 

If they are creating a health hazard, damaging the property, or interfering with the neighbor's right of quiet enjoyment, deal with it.

If there are underground tanks or other potential environmental hazards, it gets passed onto an environmental hazard insurance company and they either insure it or they don't.