Its not like CA where you need huge environmental impact reports etc and it can take years to get a project entitled.

You or any potential buyer do not want the risk of being responsible for environmental clean-up and most insurance companies will not insure and home with an old buried tank.

Knowing such things as ceiling heights, utility availability, environmental concerns, traffic counts, etc, etc, etc is critical.  

The tracks looked like they hadn't seen any traffic in years.So anyway, while doing my due diligence, I found out that there were plans for a "Rails to Trails" for that line.All I can picture is environmental do-gooders on bicycles and copper thieves having access to the back of the property

Land development is a high stakes game because it has so many moving parts and contingencies (discretionary processes like planning commissions and city councils, environmental challenges or community opposition, financing, etc.), which is why there is so much potential to make huge margins if everything goes the way you want it.  

Even with the power to ignore federal environmental laws a new plant would not be running before the next election. 

If lease rates are less than you think and costs go up to renovate then poof your profit is gone.What about environmental?

But I assume you'll be doing extensive due diligence before you purchase, anyway, so maybe the tenant will  be satisfied if you just share your inspection reports and the building plans, environmental reports, surveys, or whatever else you'll be undertaking anyway. 

You might need environmental studies, walk-throughs might take an army of people, management of the units requires a larger effort, etc.On the other hand, building a portfolio of 100 properties is much easier to do if you go the multi-family route.

As part of the land purchase, I feel it would be best to present all of the revenue generation options upfront for each property before starting geological, environmental, and civil surveys.I would appreciate any insight on creating value post-purchase, identifying suitable revenue options, forecasting, estimation of potential returns during development, key team members to add (engineers, surveyors, etc.), and deal structuring (I am raising funds for the purchase so insight into owner-financing options, etc. would be great).Disclaimer: I realize some of this information can only be provided after thorough examination of the land and welcome any suggestions on experienced, reputable, and successful professionals in these spaces.Thanks for replying,Ryan