Unfortuantely, because of some environmental issues on the land, though it at one time had been approved for such a development, it became unfeasible. 

@Josh Quant you can ask the seller to carry a second note for 5-15% this way your down payment would be as low as 5%You can also ask for the seller to pay for the survey/environmental/appraisal.One more place where you can gain is the closing date.

Analyze the potential size of the target market and the potential for growth.IncomePeople's income is a key factor in determining the viability of a real estate project, as it is a major factor in the ability of potential buyers to purchase the project's properties.EmploymentEmployment is a key factor in determining the viability of real estate projects, as it can influence the demand for housing and investment returns.TransportationTransportation is essential for a real estate project's viability, as it affects its attractiveness to potential buyers and renters.Regional analysisReal estate transactions are heavily influenced by regional forces such as social, economic, government and environmental factors.

The only thing I know if the environmental issues.

Make sure to take lots of photos of all the areas with mold, and have the moisture readings documented from your environmental inspection company.

Less expensive to install & run, more environmentally friendly as well.

Yes you can show your purchase contract, but there is a lot more (phase 1 environmental, CAMA permits (if applicable), DENR signoffs, SUPs, etc.) that collectively make paying a closing attorney $500 bucks (which includes title re-insurance) a trivial expenditure in the big picture.If your plan is to eventually subdivide your 'raw' land, you will (IMO) be doing yourself a disservice to not use an attorney toclose.

We sold it 2 months later, because they wanted environmental surveys and other things done.My second building I bought 2 years ago and have been waiting for a buyer or tenant ever since.  

Richmond area has the issue of oil refineries and environmental air pollution (that is noticeable when outside).

I certainly would not purchase this property if I did not expect continuing rent appreciation as it is detached duplex (two tenants are typically twice the work of one) and the current cash flow is too low for me to justify the effort.So far the extent of our value adds has been rehabs with potentially adding bathrooms.I have significant confidence of continued rent increases over the next few years at least: 1) rents lag property appreciation. 2) vacancy rate is real low. 3) cost to add more than ADU is high - it coasts around $100K to break ground for residential in San Diego (permits, surveys, etc.). 4) Minimum wage increases already approved.  5) one of the best weather climates in the US.  6) rising population: one recent study had San Diego as 13 highest population increase of large US cities.  7) geographically constrained: Constrained by Mexico to the South, Pacific to the West, Camp Pendleton to the North, and the East quickly gets harsh.  8) good and varied employment: Hard to manage a employment category melt down that could impact the range of employment in San Diego.  9) environmentally diverse from mountains to desert to beach to happening urban center.This weekend I plan to send 2 rent increase notices.