The tax bill is a function of two components: the tax rate for the city you are in and the assess value.

There are many reasons for this to be a sound law to prevent fraud, for example— imagine getting an absolutely filthy property with huge environmental issues without even knowing it’s been conveyed to you.

Old components of the house (roof, HVAC, electrical, plumbing, etc) should in my opinion be negotiated as part of the offer price rather than during the inspection period.

The cost of land is only one component to development, does the market bear $60 per unit or will it go up to $100 per unit or less?

With these properties I normally rehab all major components so cap ex will be low then do a thorough screening of tenants. 

That asset is what they call mixed use given the dual component, retail and multi.

Furthermore, there is a perception that contractors don't want to go by a contract or a written agreement which is one of the base components of any good partnerships.

Phase 1 environmental testing has been inconclusive, and a grant from the state has been awarded for phase 2 & 3 testing with the balance going to any clean-up.

Remember that you'll still have taxes which in some places can be a very significant component of your monthly housing bill.

Along with your own home inspection once the property is completed.. make sure they are independent of the seller and are hired by you  ask an receive the scope of work for the rehab.. did they do a fluff and buff or did they actually replace major components like HVAC water heater new pex plumbing New electric mast and junction box.. those will be your bugaboos moving forward and if you buying a 20 year old home and these are not done your going to end up doing all of this over time..