Age of systems and major components, upcoming repairs, any zoning/legal/environmental issues, years left on the leases, reason for selling, surrounding area and potential to find new tenants at same/better rents, lease terms (who pays for repairs, taxes, etc.) etc.

Clearly, a property with poor visibility filled with a lot of mom and pop, non-credit tenants will trade at a higher cap rate than the primary retail corner with all national credit tenants.Your phase 1 is important, and may require a phase 2, if there is any indication of environmental issues.  

If you were to sell it to a developer, they would tear down the house and would most likely need the adjoining plots as the footprint for a commercial building is much bigger than a residential.  

So called environmentally friendly power generation systems have a place - but we shouldn't place our main power generation into these type of systems until their reliability is more of a fact and less of a promise.   

When I walk a property the first things in look for are roofs, foundation issues, termite damage, environmental issues, septic issues etc. 

Just make sure you contact planning and zoning as well as environmental health for the septic as well as water testing. 

NO sales tax and so much land in ag and timber defferral so the revenue to run all these municipal items came from   YUP  Timber Harvest and Severance tax's so when the Fed got on the spotted owl and other environmental issues it hammered the rural counties as timber revenue dried up jobs dried up and those little logging towns that dried up with them or are now even today basically at the poverty level..   

I am out of the area (for now, moving to VA soon) and looking for a cash off-market deals with the following criteria, and wonder if in this market those could be found:- under $120K- needs only cosmetic renovation ($10K investment or so)- 2+bdr/2+bathrooms (ideally 3/2)- 1500+sf- ideally built after 1980 (to avoid environmental inspections)- not in flood zone- in a safe middle class area- Virginia Beach or Chesapeake, maybe some Norfolk but in better areas If I look at MLS, of course everything is much higher. 

Limited Environmental Issues6.

Many environmental and zoning issues can limit what you can do with it.