Unless you're able to get the local authorities to issue you the proper permits, it will be very difficult (if not impossible) to build anything in those areas.Will the soil on the property pass a "perc test"? 

Fire them and find someone who manages well- test your new management on this property, then when you're comfortable with their performance, work with them to acquire more well-priced assets.   

Test them. 

I would start there, but have a whole filtering process in place to find the right restoration & renovation company (i.e. test their responsiveness; set up the appointment a week out to see if they remember; see how quick they are to submit a proposal, ask to see their previous projects, or better yet, if they're ok with it, current project job sites you can visit, etc.) 

I have a potential house with an underground oil tank that was previously tested and failed by a potential buyer.

They will primarily be looking at the deal and want to see the DSCR debt coverage service ratio, at 1.2-1.4% or that the unit leases for 120% - 140% more then the PITI. they will only look at you & your income and credit score secondarily.I would contact the ones you don't have a relationship with 1st, and do your test runs on them, then go to your established relationships. 

In particular, the Big 5 lenders are slowing the rate at which they're giving loans + stress testing every new loan. 

I love that real estate tests my problem solving abilities at each and every turn.

@Kumar GauravYou would generally capitalize this expense under both the De Minimis Safe Harbor and the BAR tests. 

I’d he’s dealing drugs, that’s a totally different issue.