It will need an environmental survey first, new well, new septic, new foundation crawlspace, build up.

I'm majoring in Environmental science, and I think Hawaii would be a great place for me to start applying my environmental science knowledge too! 

Most Profitable Note Deal - bought note secured by restaurant/bar facility with unpaid balance of $575,000 for $312,500, collected 20 months interest at 9.5%, and then received fulll payoff of $575,000Most Profitable Real Property Deal - purchased auto repair facility with environmental issue from bankruptcy court for $115,000; resolved environmental issue for less than $2,500 and sold property eight months later for $297,000Worst Note Deal - originated loan of $650,000 secured by RV/STR property in oil shale country with appraisal of $2,000,000.  

There are a few other things like prestige or environmental impact which some people care about too. 

Watch out for easements, covenants, environmental factors etc. 

I've been hearing alot about phase 1 phase 2 environmental studies.

Second, I needed a few environmental surveys and permits by both the state and county due to the location (I have a beach front lot) and there is a protected animal that lives in the sand dunes.  

Once you are under contract and in your due diligence period, I recommend having a Phase 1 environmental study done (I've seen first hand what can happen when you skip this step), getting estopple certificates from each tenant and making sure you study the leases closely so you know what you are getting into, especially if they are gross leases and not NNN.

Specifically for legal fees (SEC docs), inspection costs (due diligence, environmental), etc? 

Your first step should be to talk with the Placer County Environmental Health Dept regarding the availability of a large septic system on your lot.