In the last few years I find myself trying to repair first and then replace just from an environmental perspective.  

I am coming from a background in Urban Planning and environmental consulting.

Are there any contingencies on getting this back if something comes up as in a residential deal (inspection, environmental, non-compliance, etc.)?

There are also some pieces of RE out there you don’t want to own because of all sorts of issues (access, title problems, environmental, ETC).  

Brigitte,Ordinance and law will matter more depending on where you live relative to flood zones, any special environmental zones, and what local code you are bound to. 

A friend mentioned that there may be environmental issues that would need to be address that could be costly.

. - Earnest Money/Hard Money- Closing costs (Docs stamps, taxes, etc)- Financing costs (origination fee, lender legal fees, brokerage fee if any, etc)- Offering Docs (PPM, Sub Ag, LP Ag or LLC OA, etc)- Transaction attorney fees- Pre-PSA inspections (walk & talks with contractors, travel expenses, etc)- Post-PSA inspections (appraisal, PCA, environmental, lease audits, etc.)- Purchase of interest rate cap (if bridge loan) or Locking of interest rate (if long term financing)- Software costs (Webinar platform, investor portal, others)

If you look at it strategically as a geographic location it is environmentally safe (no hurricanes or tonados, no rising sea levels, no earthquakes, no forest fires) and probably most importantly for the future, it is sitting on the shore of one of the largest fresh water bodies in the world.I am only half kidding when I say climate change may benefit Milwaukee.

This goes hand in hand with environmental and engineering surveys, reviews of title and survey, etc. 

Environmental and waste clearance...etc. thank you