I say it as someone who litigated cases for 12 years.  

And it's "case by case" and a case can run  between $25,000 to $100,000 and take a year to a year and a half to litigate. 

Also when doing the title search you can get an idea of what is going on with the owner, are there creditor liens, has there been a succession, is there any pending litigation with the property, etc etc.

MacLean, this loss is now being litigated against the agents and insurance program administrators; none of which have offered misrepresentation of any kind.

@Vivienne Chen  totally jurisdictional.. there is no way to do these things asking on the internet..I have developed or do develop in many different states and they are so different .so here is what I personally do.get a ball park idea of what I want to do   ( your case a townhouse project.)see what townhouses are selling for then work backwards.I will then find a good civil engeneering firm that usually has land use and land planning all in house ( turnkey if you will)I then hire them to do a feasibility study for me.. usually 3 to 10k.. if I like it I go forward if I don't I move on.. 

Call the local civil engineers , they know the players in the area 

If you've never had anybody come after you for any litigation, that's awesome too, but not everyone will be as fortunate. 

You may also be allowed under civil law to issue a "No Trespass Notice" to non residents.The "No trespass" is my preferred option as it is quicker and a work around to our regulations.

He is also called as an expert witness in credit-related litigation. 

@Lance LvovskyBut do you agree that, until further clarifications, reasonable salary for S-Corp becomes even trickier - i.e. much more incentive to lowball it, leading to more controversy and litigation?