I'm not thrilled with the possible environmental affects of it, but am much less thrilled with the wonderful stank renters love to leave sometimes!  

On one hand , as an investor you need to look at trends to know your end game, but on the other hand there is an environmental concern as well.

You would then need to jump through some hoops to get a letter of Environmental Protection in order to get any sort of section 8 or state money.

While everyone, including me, would be concerned because we either know children or some who have children, would want to "Immediately Deny or Evict" in this situation, as a LandLord, based on my "quick review/research" the LandLord while in good-conscious may want to do just that---he/she has to be very careful and strategic in his/her approach so as to avoid any legal backlash (I really hate to say/write it---but being sued). 

A "building-ready" lot is worth around $100k and there are plenty of these with old mobile homes, in about that price range, that can be quickly replaced with a new house, without having to go through time-consuming septic approvals, environmental reviews etc.

I have several years experience in a major bank so I am familiar with structuring financing deals.I have read a lot of materials, books and posts here on Biggerpockets, done further researches and attended seminars to become knowledgeable of the local market.However I still lack of local networking and hands-on experience which could help me getting started and consciously doing some deals.Suggestions, contacts and collaborations for mutual benefits are welcome.Hope to hear from you.Best, Stefano

Department of Treasury with usc exceptionState Tax LienLien by USA or Dept of JusticeUS Department of StateOther Federal AgenciesFrequent Superior Foreclosure-Liens:Code Enforcement for debris removal or mowingDemolition or Environmental Based Liens State child support lienBoard of County Commissioners for special assessmentsUtility LiensWater/Sewer Delinquency (only in selected states)County (and/or School/Township) for unpaid taxesCity for road improvements, maintenanceHere are some of the judgment and liens that will be wiped off from the property (not the borrower who lost the title) if the lien holders were properly notified and "had the right to bid on the property at the auction":2nd and junior position mortgages, such as home equity loans, etc...Credit Card Judgments recorded after the foreclosing mortgage Personal Judgments recorded after the foreclosing mortgageMechanic's Liens recorded after the foreclosing mortgageOther Judgments outside of the ones listed above

Just curious what the costs would range (assuming no asbestos or other major environmental hazard)?

Look at how differently every real estate buyer does inspections, environmental due diligence, title due diligence etc. 

Dig into to this and make sure there isn't something going one like a environmental cleanup is required or some other reason why no one was willing to bid on this property.