With local multi family prices at an all time high, oil very, very low and the various national factors (inevitable rate rise, election year ahead, etc) we have been trying to keep our nose to the ground for any signs of a correction or slow down. 

Any underground oil tanks?

I read about a different project where there was a green angle (palm oil?).

The next storm, economic downturn, oil spill, or Zikapocolypse will signal a steep decline in VR demand. 

Over building in A class would be the first casualty but as we've seen w our partner in Houston during oil drop, B,C class apts are lower beta assets and occupancy and rents tend to hold up very well in downturns.

This was for a 15 foot below ground geoprobe in 4 locations around a buried oil tank. 

You could choose to deduct actual costs associated with the truck (gas, oil changes, ect) instead of the miles- but the actual cost of the vehicle doesn't really create any more of a deduction here than you previously qualified for with your current vehicle. 

The seller is Fannie Mae and the seller's is not allowing to dig to find out whether its an oil tank or not.

Here, there is only a requirement for CO detectors if the house has a gas/oil/wood furnace, water heater, fireplace/fixture or appliance.One of the reasons we prefer to rent most of our student properties by the house or unit.  

As for the drop in oil prices, we have not seen drop in occupancy levels nor in rents.