My father is giving me a commercial lot worth $280K contingent on the environmental inspection report.

Currently I am 21 attending the University of Delaware with a degree in Environmental studies and sustainability, with an economics background.

Also you may want to consider at least an environmental 1 to see what treatures you might find burried in the ground.

3.5 is high for sure, but lenders DO conduct extensive due diligence, including environmental, obtaining an appraisal and review, review of survey, title, they usually order flood certs, sometimes hire an abstracting company to review and approve budgets, draw schedules, etc. and leases if you're looking for construction to perm, and so on... requiring a sum up front is far from unusual, especially for a construction loan.

It was supposed to be short-term until we got the map recorded and ready for demolition.Well, the guy hooked up his RV, and started to fix up the house (without telling me)One day, we got an environmental report done which included interior photos.I could not believe my eyes.

They did a rezoning a few years ago and everything was approved so they're assuming the billboards are fine, but currently they cant seem to find anything prior to 1983, so unless a paper magically appears proving they were there prior to 1981 they are worthless.2)Full environmental inspection would be required to see if it could be considered "wet lands" if so it limits how the property can be used in the future.

Environmental distress is a plus!

If the property is such a good deal that you have to have it and the potential liability for environmental or title issues are worth it, go for it.

I heard about it from a good friend who I frequently chat with about real estate investment and both of our goals for our futures.A little on my background: I obtained my B.S. in Civil and Environmental Engineering from the University of Virginia in 2009 and have worked in project management in the construction industry ever since.  

They would put the 15 acres into Native Prairie and harvest the prairie seeds for Govt, State and other environmental projects and you would need to do nothing but enjoy the Prairie.