The tax advantages of buying/holding gas stations are pretty great.Many of the components of gas stations including pumps, tanks, external parking areas, and other equipment are classified as either 5 or 15 year property so you can bonus depreciate a lot of it (minus the land value) and get significant deductions in year 1.With the current bonus depreciation rate at 60%, a $1 million gas station acquisition could still lead to $100K+ in year 1 deductions depending on the specifics of your deal.

Have not yet spoke to local credit unions.This has all been validating to what I’ve been thinking about, but you also brought up a few real world examples that i would have missed. 

If one buyer doesn’t want to pay what it’s worth, someone else will.Know your market: If the market truly shifts and a buyer’s concerns are valid, it’s reasonable to adjust.

I would be reluctant if it were a gas station or other environmentally challenged property though). 

Single boiler serving a duplex- landlord paid water / natural gas because there's no way to split it accurately. 

After suing Farmers Insurance for 7 years and having to hire an attorney to deal with a title claim that the underwriter's counsel admitted was a valid claim, I know of what I speak. 

I have a duplex near a Mini Mart gas station and people are constantly throwing their trash on my property.

But the city has risks too: historic tanneries, dry cleaners, gas stations, garages, workshops, any kind of industrial use - always be suspicious of what people did with chemicals back in the 50s and 60s when the general population had no awareness of the damage

Additionally, you'll be making a lot of decisions on the plans today that will drastically affect the cost of your build later, so get a GC lined up now that you can run questions past like gas in the building or all electric, if it's a duplex how do I get away with no house meter for the electric so I only have two meters and not a house meter you have to pay for, etc.

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