I plan on executing a title search and performing an inspection, but does anyone with experience in purchasing wholesale properties have anything to add on what to expect, things to watch out for, or steps to take in the process?  

You can't implement a plan to drive up the value of VTSAX, but we can (and do) force value add on real estate all the time.That said, VTSAX has advantages that can't be denied.

Does anyone have any experience that can help guide me on how much more cost, time, etc this might add on?

Let me add one more concept to this after glancing at your title when I posted.

Best Regards,Kody

It draws about 3 million visitors annually, the 400,000 sq ft is full with waiting list and rents per sq ft into the 60's, and the developer is looking to buy more land buying it to add on more building and parking.    

The TenantCloud applications are fully customizable for different states or whatever (it's free, so easy to play with) and easy to add on disclosures as attachments.

I got my very first deal from a for sale by owner add on Craigslist!

I'll add on my side.https://www.biggerpockets.com/blogs/9145/54632-28-...https://www.biggerpockets.com/blogs/9145/54408-28-...

Talk to the building inspectors about what codes or what the year is calling in regulations add ons.