It's a really solid/stable area, in a good location, that's just off the Main Street of town.

You could need anything from a borrow pit to determine your near ground soil conditions, or you may need to take borings for subsurface exploration. 

Region of interest:I intend to explore markets and identify a specific target market somewhere between Boston and Cape Cod. 

Small town rents, so when building is done, total rent for building will be $3k/mo.

Now if you child is grown and is your active business partner, there is probably more benefit to doing an LLC.Unfortunately, legal entity creation, taxes, and estate planning are so individualized, that it is probably worth the money to sit town with an attorney and accountant to get this write. 

But I was out of town on closing date so my dad signed for everything.

I'm looking at a small town (probably too small) to invest in. 

I try to spend the weekends out of town, so we can plan accordingly. 

I'm in no rush to sell this property, just a hassle to manage out of town.  

You should explore those options as well if you have time.If the offer is accepted, see if the current owner has obtained an Elevation Certificate.