I will be getting documentation stating the cleanup occurred doing phase 1 and phase 2 environmental. 

As an agent, I am hyper-conscious of the dates for my client's deals - and I send emails (text is not a legal form of notification in my state) the day before the date to all pertinent parties to remind them of the upcoming deadline.

I am in Maryland where the state and the county I live in are historically ahead of most parts of the country in adopting new codes and environmental regulations.  

You might have to pay for several studies that will tell you if there any age problems like Asbestos, Lead Paint, and any environmental problems. 

Actually the black countertops were a conscious choice.

And insurance will vary depending on size of house and environmental factors, but compared to all the other expenses it would be so nominal of a percentage.The only thing that is not included in the standard 70-80% formula, is your personal and or corporate income tax rate.

We made a conscious decision to take an aggressive path and just get started.

Are you talking about an environmental test?  

If the due diligence on the improvements is positive e.g. structural, roof, environmental then it sounds like you've got a killer deal on your hands.You didn't mention the market, metro, secondary, tiertery so you'll want ensure there is enough depth in the market to fill any vacancies as units go vacant.

I have a Master’s in Environmental Law from the University of Wisconsin-Madison and a Law Degree from the Catholic University of Peru.