If its commercial the closing costs may include an environmental phase I or phase II (the latter more expensive).

The realtor told me that usually people would put an escape clause if there are environmental issues (such as an oil tank in the back yard) or structural problems.I was hoping that the collective experience of the people on this wonderful group would help me avoid some pitfalls with my first serious real estate adventure.Thanks

The issues range from environmental, to energy efficiency, to safety, to material supply and a host of others.

You'll also have to spend about 3K on average for an 84 page or so narrative appraisal and be prepared to have to wait to have an environmental study done. 

The part about 2023 is when the environmental study is to be completed.

. - 31 trailers in total ruin- 14 trailers that could possibly be repaired or sold (5k+ per trailer)- 11 trailers people are living in (5 tenant owned - and the rest are owned by park)- Before COVID renters were paying $200 /month- Trash everywhere and lots of land clearing to get it back up to parOther Issues:- A lot of theft- Nobody currently paying rent because of COVID and he cannot evict- No financials on the operation- No water meter at trailer- No agreements with renters- He has 480K in it - and said he wouldn't entertain anything less than 400kThe amount of work to get it up and going again and the lack of current revenue makes it hard to justify anything around that number ...in my opinion.I've just let it be for now as he either needs to have pressure from local environmental agencies, etc to get rid of it for a reasonable price..... as, he is just "sitting" on it. 

Then they go to China and Asia and pollute the hell out of everything so they can sell cheap crap at Wal-Mart to all the sorry sacks that are probably living in our apartments, its a shame. 

It really depends what the environmental issue is. 

Opportunistic is where there are serious problems: drug dealers, bed bugs, very low (0-50%) occupancy, environmental issues, all of which apply to at least one property in the opportunistic list above.  

we also border the Mollala river which supports Salmon Steelhead and Trout so keeping the waters of Oregon clean is numero uno priority on the environmental side.