We are working with the closing's title company - they are reputable and we have an open line of communication with them, and the listing agent, seller's lawyer, and the reputable title company have told us it's clear there are no liens - to make sure we are sufficiently insured in the title insurance, to make sure the title policy has coverage without any of the liens exceptions listed on auction.com:"Most liens are removed after a foreclosure property sale, but certain liens may remain.Here are some examples:Any lien recorded on title prior in time to the foreclosing mortgage.First Mortgage (if the foreclosing mortgage is a second or third mortgage)HOA or COA assessment liens (in certain states)Mechanic’s Liens (in some states)Government liens such as state and federal tax liens, city or county liens, US Government liens.IRS liens (IRS may buy the property within 120 days after sale at the price paid at foreclosure sale)Code Enforcement Liens, Environmental Liens, and Utility LiensChild Support Liens"Is this the right approach for bank-owned?

Everything else being good--appraisal, environmental, personal credit--this should be financiable.

this Island had already been the subject of bad real estate deals over the years.. there was simply no way it will ever be developed because of environmental restraints.. 

Whereas, if you turn that illegal garage unit into an ADU, and  youre using the existing footprint (not adding on), there is no new hookup fees.The rules have been changing a lot lately.

As we grow our property footprint I'd like to find a CFP who understands the role real estate can play. 

Review title commitment and survey to make sure to deed restriction and/or HOA in place that would stop you from doing 4 plex2) Meet up with City/County planning office to make sure 4 plex can be build and lot has enough parking spot . 3) Talk to an architect to get an initial foot print, layout and foundation type (i.e. pier beam or post tension slab) 4) Bid out to get estimate for both soft cost (survey + construction drawings + Permit) and hard cost (cost of building)  Without #3 you really cant get hard estimate Problem is that you may not enough time to hash out #2-4.. prior to closing the land .. 

They tear them down & build homes that literally fill the max allowable lot footprint so I can't wait to see the monstrosity they build on it.Case in point one block away...another one going up

I was wondering if anyone who has done this can tell me if after comparing price per sqft of the building aspect of the project only (cost of land, environmental remediation, and demo excluded) they have found modulars to be a more cost effective way to go rather than stick built.

I've seen a couple of properties in Springfield especially with a sign from the county, something along the lines of "this property is an environmental hazard due to lead, unsafe for human occupancy, especially for children under the age of 6 and pregnant women..."

Walk away.In order for the lender to obtain the necessary capital to fund that loan, it has to pass an initial environmental survey.