They have already put 500 K into health and environmental updates and the building itself is paid in full.

Further, it may have environmental issues if there were garages on the property.

just get it under contract for a REALLY good price and put or have someone put a subject to pass inspection clause and or subject to pass a phase 1 environmental report done.

The letter states the money will be used to fund inspections, title work, appraisal, inspection, internal financial review & legal, loan processing, and environmental survey.  

Other factors, like title issues, environmental issues (asbestos, oil tanks, etc) can hinder the process.

(“At the moment our industry is restructuring today’s real estate firm –so my message in introduction is to capture even the value conscious consumer ...to offer cross-purchasing benefits; what coupons, discounts, shopper clubs and point programs are you looking for?”)

Did they do a clearance test with an environmental hygienist? 

You buying ;)@Thomas Wassmann, I mostly appraise the equipment and environmental state of the properties...we do all removal, cleanout and demo if needed.

If you are going to build on cheap land in the middle of nowhere and try to attract budget conscious buyers, you should probably consider a mobile home park.

The buyer of the building did not do an environmental test before he bought.