Locally, you have to hire an engineering company to do the surveys, elevations, environmental reports.Sit down with them for a talk about what is involved.In my local, a 3 way split is pretty easy (cost, about $5,000).

At a 5 cap you would have 540,000 sales price.You said 75k a unit is what you believe they are trading at. 75k X 6 = 450,000450,000 is a 6 cap rate.Let's say you spend for everything roof, parking lot, environmental, legal, plumbing, electrical, HVAC, unit build out and finishing averages at 30,000 a unit.You buy at 20k and put in 180,000 for a total of 200,000.

According to my contract, "Buyer shall have 10 calendar days after the date of acceptance of the contract by both parties to have inspections, environmental inspections, and/or tests completed."

Biggest issue if the warehouse is old for adaptive re-use is does it have asbestos and are there any environmental issues with the property??

You may also be requires to undertake an environmental assessment of the property by the lender (to prove there are no old USTs or other surprises waiting to ruin your, or rather, the lender's day).Where you can often successfully purchase a residential property without using a buyers agent, an experienced commercial broker will be an invaluable player on your team during the purchase of your first few multifamily properties.Enough rambling ... and I did not even get through the purchase processes ... must take the boy to daycare.

Real estate may also involve personal liability for leases, contracts and mortgages as well as for expensive environmental remediation and clean up.  

Do an environmental inspection on the land itself to search for contaminates or...?

This air conditioner will run on environmentally friendly 410A freon.I found it online~$800 + I am thinking worse case scenario 8 man hours to install at $100/hour + $200 to charge the system.

I don't have any experience with car washes. however; I would think that the biggest issues will be water availability, and any environmental regulations that might make it costly to operate?

Its the hidden cost that I was more worried about like environmental assessment, insurance etc. the stuff you can do with out and be ok 99 times and get killed the 100th.