I'm 90% sure I have insurance with the title company for this scenario, but what they need me to do is do a survey, which would be 2k out of pocket expense.

Court searches, with local tax certificate for village or City taxes, if any (collectively the "Abstract" and (ii) an instrument survey map, certified and prepared to meet the Standards of the (locality) Bar Association and Buyer's mortgage lender, if any (the "Survey").

And closing costs of $4,200 work out to 1.2%, which seems low for attorney's fees, appraisal, inspection fees, pre-paid homeowner's insurance, origination fees, pest inspection, pre-paid property tax, recording fees, survey fees, title fees, transfer taxes, etc.Not sure how old the property is, but CapEx + Maintenance of 14% feels optimistic to me. 

.: new surveys, higher permit fees, gas undergrounds).

In the mean time, we have just paid a survey company to divide it up in to four smaller parcels.

It is a bigger deal, soil test, survey existing units, etc...multi year start to finish is my guess. 

That can be useful, if there is enough in the area you are surveying.

My realtor sent me the survey of the property that the potential buyers had done and ultimately backed out on.  

The underwriter will use what is on the lease to determine the monthly rental amount and the appraiser will do a rental market survey when he appraises the property.

It can be a couple thousand bucks for a survey and an application to hundreds of thousands or more depending on the size.