Have you checked with the local building dept (it’s usually in their website as well)-park impact fees-traffic impact fees-school impact fees-per unit charge for sewer/storm-check if you have room onsite to meet the required parking ratios (1.85-2 spots per unit is required out here)-check your phase one environmental as see if you’ll run into any issues on the property by expanding the footprint.Hopefully your building in an area that welcomes new development and most of these don’t apply.Best of luck to you.

Further, broker selling the property want 6% commission, the buyer wants you to make needed repairs, pay for a survey, pay for title insurance, pay for an environmental report.

There also might be other lying elements such as cloudy title or family issues that prevents them from selling. 

Here's a list of what we ask for in our LOIs and contracts:Operating financial statements for the property, including income statements, expense statements, capital expenditures, for the last two years of operation and year-to-date financial statements for 2020.Prior two (2) years tax returns and addendums for the Property.Current tenant leases, tenant correspondence, tenant credit information, tenant security deposit register, and delinquency report.Onsite staff payroll records to include salary, bonuses, payroll taxes, benefits, etc.Monthly owner statements and rent rolls for the past 12 months.Contracts, service agreements, and files pertaining to the property.List of maintenance all maintenance requests (complete and incomplete) for the last two years of operations.Real estate tax billings and assessments and other correspondence pertaining to real estate tax calculations at the property.Copy of Insurance Policy and claims documentation (loss runs).List of capital improvements and any and all necessary related documentation and warranties.All existing warranties and guarantees from architects, contractors, and material and equipment suppliers, all of which would be assigned to Purchase.Any existing environmental Phase I/II reports, engineering reports, soil, mold, radon, asbestos, hazardous substance, termite, or other tests, studies, or reports.Any existing appraisals.Itemized inventory of all personal property.Twelve (12) months of utility, water and sewer bills.Twelve (12) months of bank statements.Verification of additional income from operations including but not limited to application, pet, late, and other fees, etc.Copies of title policies, title reports, land surveys, site plans, deeds, or any architectural plans for the property.History of or pending litigation against the Property, its owners, or its managers related to the Property or the operation thereof.Such additional information, documentation, or access as Purchaser shall require

Doing it out of state adds another element of difficulty.

Some of the larger wholesale lenders in that space will charge you $1995 just to underwrite the loan and another $600 to close it not to mention the environmental survey as well as the cost of the appraisal BEFORE you even get to the measly 2 points the broker's going to make. 

I've found quite a few environmental engineering companies in Raleigh, but wanted to check with you guys first!

This is accomplished by gathering, validating and analyzing data in the following 3 areas:FinancialPhysicalLocaleEach due diligence process is different based on the unique elements of the deal and features of the property.

As your business could be a brand in future (never underestimate a small business), you just require a few branding elements to work on.

While many elements can contribute to the scale of a residential structure, designs should minimize the appearance of over or excessive building substantially in excess of existing structures in the neighborhood.