Leon, I have personally handled refis for large investors on commercial properties, and I can tell you that there is always some aspect that is being personally guaranteed (environmental for instance) by the members of the LLC. 

You generally wouldn't expect 15% occupancy anywhere in our market on any type obviously, but we do consistently see that on distressed assets, perhaps mostly on industrial types that are out of code and tenants can't get CO's for without either the owner or tenant spending significant sums of money on rehab/environmental.  

Consider an environmental study due to contaminated waste and chemicals used in the medical field.

My biggest concern is buying land in a planned development where I cannot develop on my own without the master developer first laying down the basic footprint (driveways, utility connections, etc).

Shortly after that, I had the great good fortune to hook up with an environmental engineer (a fellow BP-er) who not only understands this complex stuff, but who is also a highly-ambitious real estate investor who wants to hit the Financial Freedom level ASAP. 

I plan to pay some debt down and reinvest the remainder in continuing to grow my wholesaling ability and make a big footprint in my area. 

Another unit did not have their electric turned on so we couldn't test anything in there.I contacted my lawyer about this and he stated that in our contract it states "This contract is contingent upon a written determination, at purchaser expense, by a licensed architect or licensed engineer or by an agreed third party that the property is free from structural, mechanical, and/or environmental defect not exceeding $1,000".

These short timelines scare me much more than the possibility of losing my deposit, especially since I mentioned my due diligence would include an environmental report in the LOI.  

I've strongly considered TK SFH to expand my investment "footprint", but haven't pulled the trigger yet as I have been seriously looking at smaller MFH opportunities (which haven't been good deals, BTW).

If she'll wait that long, and if his due diligence doesn't turn up any environmental problem, etc., he will marry her.