Is there environmental contamination? 

On wells, you likely want a flow test as well as identifying any contaminants in the well.

Lastly, maybe a call to the DEP... but that’s sort of a sh***y thing to do, and I’m not sure their jurisdiction as most of the contamination is likely interior. 

Second question...was the apt deemed contaminated?

You need to make sure environmental is clean especially with a mom and pop tenant and see per the lease who is guaranteeing to keep the site free from contamination and who will clean it up in the event of a spill etc.Mom and pop tenants the buyer pool is much smaller versus national or strong regional STNL so cap rate rises a lot on those small mom and pop deals and financing offered is high interest rate and short amortizations with lower LTV's typically.

With all of the many intricate laws regarding soil contamination in the state, most attorneys will not let a sale close without the tank being removed.

It should be a $1-3K project if no contamination is found.

Stain color isn’t always a good indication; the yellow comes from contaminants the water acquires and/or moves.

On occasion the tanks are decommissioned properly with the town/state and but often they arent which can be a minor inconvenience (if they need to be removed) or a huge headache (if there are multiples or if ground contamination is present).

@Brock Whitworth once a meth house always a meth house...There isn’t a deal in the world that would be good enough to be messing with meth contamination