I am so out of my element here and I need to cash out refinance my two BRRRR before I make a move to learn something new.

Why do you care what the environmental report says?

We are working with the closing's title company - they are reputable and we have an open line of communication with them, and the listing agent, seller's lawyer, and the reputable title company have told us it's clear there are no liens - to make sure we are sufficiently insured in the title insurance, to make sure the title policy has coverage without any of the liens exceptions listed on auction.com:"Most liens are removed after a foreclosure property sale, but certain liens may remain.Here are some examples:Any lien recorded on title prior in time to the foreclosing mortgage.First Mortgage (if the foreclosing mortgage is a second or third mortgage)HOA or COA assessment liens (in certain states)Mechanic’s Liens (in some states)Government liens such as state and federal tax liens, city or county liens, US Government liens.IRS liens (IRS may buy the property within 120 days after sale at the price paid at foreclosure sale)Code Enforcement Liens, Environmental Liens, and Utility LiensChild Support Liens"Is this the right approach for bank-owned?

I would like to know how the characteristics and elements of a property that investors look at before deciding to Fix and Flip or Buy and Hold?

Everything else being good--appraisal, environmental, personal credit--this should be financiable.

Your PMA should have defined every element that went wrong in your story. 

this Island had already been the subject of bad real estate deals over the years.. there was simply no way it will ever be developed because of environmental restraints.. 

Elements Financial, KeyBank, Energy Plus Credit Union.

I was wondering if anyone who has done this can tell me if after comparing price per sqft of the building aspect of the project only (cost of land, environmental remediation, and demo excluded) they have found modulars to be a more cost effective way to go rather than stick built.

However, in that case consider the elements of criminal trespass.