I’d encourage you to go to the local events like @Jonathan Klemm mentioned. 

An earlier post mentioned "vacancy."

Also there are some major zoning changes proposed.Something you didn't mention is financing--unless you're buying cash? 

Like others mentioned sub $150-180k doesn't seem worth it, especially in blue states. 

Since you mentioned that there is no sewer or water, they can inform you on septic performance.

Part of me doesn't even want to mention the question of who is paying for the W/D utilities but I need a way of discussing this and making this fair given it's shared and usage could greatly vary.

The notes are all on commercial properties (office, warehouse, shopping center, mixed use or sometimes multifamily)The properties are either vacant or occupied by tenants, not owner occupiedThe property value is usually higher than both the UPB and the legal balance, sometimes significantly higher than theNow it is important to mention that I have very little experience with issuing notes and buying performing notes.

In terms of the current rules, as you mentioned - updates to legislation are currently being discussed.

He used old receipts and even letters that mentioned it!

Here are a few I have looked at, By the way I have no affiliation or connection to any of these other than the investment I made with Lofty.AI I mentioned earlier.