Perhaps the biggest pitfall I would say to avoid is the "Shiny Object Syndrome".There's so much to cover and I'm sure others will jump in and cover what I may have missed...

I think we will shift to using a specialist commercial attorney in future who would have seen this issue from a mile away.

(I am now going to tread lightly and objectively on a touchy subject and will avoid using names)One of the things I see here in Utah is big meetup groups and high-cost (up to $20k) real estate "communities." 

You could try installing blackout/noise reduction drapes.Have you dug deeper on the objections about the noise? 

What are your objectives for this purchase?

You can find the bill here: HB1410 and can find information on the objections of the Landlord Association of Arkansas here: Landlord Association

At this point they should never object to showing the unit or other aspects of re-renting the place.Also ask them to give you a list of the things they think need to be done before the unit is re-rented.

There are brownfield specialist buyers and EPA contamination site buyers that focus on it

Most people are taught to think about what's in front of them, the next shiny object, or even how much can I afford per month?

Treat it as a business and make business decisions based on your investment goals and objectives.