Are there legitimate environmental concerns?

It will also show you any environmentally sensitive areas. 

What I am saying is unless the seller is extremely desperate and he/she will pay you to take the property (ex. property with environmental hazards, etc.), you must contribute one of the following to get a deal done:Land (The Deal): You can locate a really good deal, conduct the due diligence, draft the investment summary, locate a reputable property manager, obtain debt financing quotes and raise equity to close the transaction.Labor (The Expertise/Property Management):You can locate a capital partner who has a deal and provide property management services to increase the value and generate an attractive return to investors. 

Make sure to get a phase 1 environmental if you move forward with the transaction.  

For now, this is an exercise for me to learn how to evaluate these larger properties and learning the more in depth steps.Here's the pro forma: (BP won't allow any HTML Tables so this is ugly, first # is soft, second is monthly rents, and third # is the rent/sqftAutomobile Repair9400 -- 3000 -- 0.32Church14300-- 2000 -- 0.14Jerky25600 --- 3500 -- 0.14Restaurant3127 -- 1750 -- 0.56Listed as Rented buy Google says is Vacant2400 --- 0 -- 0Rock Climbing Venue2000 -- 1200 -- 0.6Smog Shop2600 -- 1500 -- 0.58Gym7000 -- 1300 -- 0.19Vacant11000 -- 0Totals:77427142500.21Calculations:Listed Price$1,710,000.00Listed NOI$171,000.00Listed Cap Rate10.00%DP 30.00% = $513,000.00Financed$1,197,000.00Debt Service @5.5%$95,760.00 (15yr Amortized 30)Cash Flow$75,240.00COC14.67%Debt Service @3.5%$83,790.00 (15yr Amortized 30)Cash Flow$87,210.00COC17.00%A couple things to note:1 - There's a wide swath of Tenant Classes 2 - I am aware of the environmental concerns of the Smog & Automobile businesses. they are on the back side of the property away from the retail in a separate set of steel warehouse buildings.Tagging @J Martin -because he wanted to stay in the loop on this.

by and large if a parcel of land in any major metro city was on MLS  and did not sell then it was overpriced probably by a lot... or has some other hair on it.IN markets were new construction is viable and hot land deals sell in a matter of hours or days at the most to builders looking for lots.my take on Texas as whole ( not Austin though) is there is so much land that builders and developers have a lot of options and unless you have some sort of infill in a super hot spot  your dealing with a parcels with limited value or desirability or physical constraints for environmental or regulatory impediments.   

Then we have California and our trend of being "the most stringent" on environmental laws etc. which translates into too expensive to do business in!

Hi @Ryan Galasso,That is a pretty good basic package of coverage.The main thing I would be concerned about is the potential pollution exclusion and the ability to scale in the future.Most companies have a total pollution exclusion and in the case of tenants, the biggest thing to worry about in that regard is carbon monoxide poisoning from a furnace or water heater. 

., tax assessor's office, drive-by, investigation of environmental concerns.

I am not sure how it tis with medical facilities but it may require a lot of environmental protection cleanup afterwards.I remember a gas station lot being sold at $1000 because it required over $250k of cleanup where similar size lots were going for over $300k.