The lender may require things like phase one environmental and commercial appraisals are much more expensive.

It is going to need 250k in repairs, some is structural and some is environmental.

These are not cheap on commercial.You may have environmental studies the assume the lender there are no environmental issues that would hurt the value of the property.

You need structural engineer to clear that building as to foundation and exterior walls or anything left.Fire restoration is a specialization, not just due to the smell and impossible cleaning of clothing, protective gear and the mess having possible environmental issues but you need to know what has to be cut out and what can be salvaged.If it were in my neighborhood it wouldn't be sitting there at a price like that.

Rent Roll (24 months) Last two years P&L financial statements Litigation (existing and pending if any) Floor plans Interior and Exterior photos Ages of roof, windows, heating systems and cooling systems Age of appliances Name, address, and telephone number of property manager and all vendors Last 12-months utility bills All service contracts Insurance policies and loss runs for last 5 years (if any) List of all personal property utilized by Seller in the operation of the Property that is currently located on the property Current and last 2 years property tax bills Lease agreements Known Zoning ordinances affecting the property Known Environmental issues affecting the property List of improvements and/or repairs done during ownership Seller’s list of any expenses not listed before.

Reputable lenders may ask for a small deposit toward third party costs (appraisal, environmental, etc.) after delivering a term sheet and/or commitment but not generally something so amorphous as an "insurance fee" - those kind of costs, if necessary to close the deal, can typically handled at closing.  

@Matthew Louks, AIP claims to be "green and environmentally friendly".

A couple phone calls with the NYDepartment of Environmental Conservation may give you an extremely low-effort, hands off cash stream.

A Hybrid contract of sale... a way to close more transactions by joint venture A commercial contract of sale, 3 pages with special buyer requirements related to environmental conditions, existing suppliers, surveys, buried oil tanks and other conditions that must be known to make a profitable and safe transaction An option agreementAn informational pocket pack with 52 options to financing and control a building without conventional financingBlank checks, pens, carbon paper, A list of referencesDisclosures for lead paint and other state or federal requirementsCell phone with camera to take pictures of the nice things and negative aspects of the property and to take a picture of the contract to email confirmation to seller and to your title company or lenderA gift, something for the seller to remember you by, I give Indian Head Nickels away, pens, note pads.Blank addendum forms - these are used to attach to your purchase agreements (you don't want a lot of chicken scratching on your contracts; use them to write some of the following; 1.

Industrial properties usually have environmental issues and there are different levels of due diligence required.