This gives you time to research the land's zoning, potential environmental issues, access to utilities, etc., without being committed to the purchase.

I'm from Arizona, and my thought would be that this might be appealing buyers (possibly in the Phoenix area) but more specifically in Tucson, where there the demographics (professionals/environmentally conscious) would be very receptive to that kind of feature in a more high end house, or at least a house in one of the desirable neighborhoods in Tucson. 

In turn, this cut-and-dried qualification formula eliminates the need to do an expensive environmental review on the land during the certification process.The certification process that officially creates these salable credits is equally straightforward: It takes about 30 days and costs $1,400, regardless of the size of the land or the number of credits that it will yield. 

You are asking a Qualified Intermediary to acquire and hold legal title to replacement property, so they are going to need assurances that there are no environmental contamination issues to worry about.  2. 

If you do not have immediate plans for the land then it could all be upside but be careful for environmental concerns (I.e. motor oil leaking on no paved surfaces, etc)I am not sure what “insurance” you have on the vacant land but you should always make sure and talk to your insurance broker to find out the specifics of your policy before committing to anything.Do you know if the owner of this company has truck stored some other place?

Obviously I live in the Bay Area so it's a very environmentally conscious community, but can you provide any insight?

Limiting (some) factors of your land that you must understand:-Zoning-Deed Restrictions-Utilities availability-Site issues-Environmental study

I would like an inspection contingency (Radon/Pest/environmental/engineer/furnace), I would also like them to do surveys and stakeouts within 5 days, a $1.00 Earnest money, a 45 day attorney approval, a 60 day partner approval and an assignment contingency.

The unforeseen environmental costs can snowball and wipe out your assets.If the model is to invest long term with partnerships or syndication or REITs, then that's a different story.In the end, it does really depend on the goal of the individual.

Conditions Precedent: The obligation of the Purchaser to purchase the Property will be subject to satisfaction or written waiver by the Purchaser of the following conditions within 60 days after execution and delivery of the Agreement.Review and approval of the documentation concerning the property;Completion of satisfactory physical and environmental inspections of the Property; including suite inspections.Completion of satisfactory due diligence search and examinations;Satisfactory review of the title of the Property;Satisfactory first mortgage financing being arranged for the purchase of the Property;Satisfactory second mortgage being provided by the Vendor for the purchase of the Property;7.