Usually, only heating oil USTs associated with commercial properties are regulated. thus, most home heating oil tanks may and often are taken out of service without any oversight from state regulators.Second- the rules that are in effect for heating oil tanks are usually less stringent than for diesel or gasoline tanks since heating oil tends to thicker and may not migrate as far. as a result, many states just require tanks to be cleaned out. they may also require the tanks to be filled with sand or concrete to prevent collapse. but sampling may not be required.Third- the key to determining if a tank has leaked is to collect soil samples from around and beneath the tank (groundwater also if groundwater is shallow). another quick way to see if a tank is leaking is to "dip" it with a stick that has a paste that turns color in the presence of water. generally, if water has gotten into a tank, it can mean oil has leaked out of the tank (although a certain amount of condensation may be present even where there is no leak so this is not a infallible test).Fourth- if there is currently a tank in the basement, ask the owner if there used to be a buried tank (a/k/a underground storage tank).Fifth, If the tank has impacted the soil, the cleanup generally varies from $25K to $50K though the costs will depend ont he depth of the contamination. i once had a home with a heated pool that had pressurized piping and used diesel. the contamination went down 40 feet and the consultant went crazy excavating the soil to the tune of $400K!!!

Good advice to sit and talk in depth about the specifics of the restrictions.

Usually in depth appraisals will always come back higher than in house or drive by appraisals if the property has been maintained well. 

Would be able to go more in depth about the Louisville market?

The main issue I have with 'mid market' surrounding cities, and I won't name them specifically, is that there's not the depth of the market to support top of market rents. 

It is a lot harder fix because the depth of the crawl was 8".

To clarify, the soil vapor means gas coming out of the soil dug out at different depth so I think there is more than just indoor air needs better ventilation.The source of the contamination are suspected to be: 1.

I attached a link to the new analysis in case you want to take a look. https://www.biggerpockets.com/...Thanks again for the in-depth analysis of my analysis!

It's too early to tell the exact depth and breadth of this situation.

The way you underwrite the deal is much more in-depth, the team you need to assemble much broader, and the financing process more rigorous.