Yes I would be conscious of potential dangers of committing to purchase but I'm not looking to do rent to own just tie this up for later if it doesn't work out I'll walk away but I think I can get a good price on this with a lease purchase and not forgo using FHA or VA in the future.

Like the conscious metaphor nonprofit and for profit are really two sides of the same coin.

You need to find a good environmental consultant in your area to inspect that 1955 building for asbestos and lead-based paint.

How are you on BOCA, OSHA, Environmental Engineering, Marketing, Planning & Zoning aspects, obtaing zoning variances, politics in the area, working with utilities and thier engineers, financing projects......I could go on....Point is, you won't get this out of a few books, universities offer degree programs and new grads still are only prepared to assist an established developer.Best thing is to work with one and learn.Many developers were GCs before they started, probably started with a small number of lots and built in phases or got an existing area and built to suit.

Buying a property that has environmental issues.5.

Is there anything that would affect the value of the lot (power lines, environmental issues, drainage, etc.?)

We are a B Corporation registered in Mass. operating in Georgia.We are a real estate development firm committed to social and environmental impact utilizing smart growth, sustainable and new urbanism principles.By becoming a B Corp, it allow us to make corporate decisions with investors dollars based on environmental and social impact.

We add salt to a dish to enhance flavor and when just the right amount is added, we dont consciously even recognize the salt.

Great list @Ky Sharp If you are confident in your analysis and buying all cash the appraisal/bpo isn't necessary but an appraisal may help you negotiate if it comes in low.We like to have two or three mgt companies walk the property during due diligence and propose their mgt plan that includes a capex and/or repositioning budget.If the subject property and all properties nearby are the only things ever built on the land there you may not need a phase 1 environmental but if it's a large property and/or you're bringing in outside capital (lenders or equity partners/investors) having one demonstrates your thoroughness and professionalism even if one is not required.If there isn't a recent survey one it may be required but if one is not required getting a new one falls under the same considerations as above.We have gone to always having an engineer do the inspection even though it can be 2x what a non-engineer inspector may charge.

http://www.nolo.com/legal-encyclopedia/landlord-tax-deductions-environmental-cleanup-costs.html @Steven Hamilton II @Steve Babiak based on the article in the above link you guys seem to be right on about it being an improvement.