Fire and hazard insurance would further be specified in your deed of trust.I assume that since the entitlements have begun, there is a loan already in place(?).

I always tell the agent after I speak with the building inspector and he tells me it's not buildable but the listing never goes away. 

Ask to speak with some of their current owners and current/former tenants.

Statistically speaking, you have a high chance of facing a lawsuit with that number of units of the next 10 years.

They refused to let me speak with a Supervisor and would NOT let me make an appointment to speak with the Clerk of Courts.

I know this could be a foreign concept to most west coast landlords but out in the mid west deep south its quite common to have the deposit just a non refundable fee .. the tenant already knows they are not getting it back so many landlords just take it up front and tenants just move.. now this is with C class and below generally speaking and for sure most section. 8 

Ask to speak with some of their current owners and current/former tenants.

Generally speaking there are no attached duplex-style properties similar to what you may find on the mainland.

As others have mentioned speak to a lender.

@Ryan Hammond BP is a great place to start, but your questions would warrant speaking with a 1031 exchange company so you can get good information.