Do a walk thru before a tenant moves in and show them basic home maintenance and that they'll be responsible if they do things that destroy components of the house.

He totally wants me to remove the portion about the property being "free from hazardous substances, and from violation of zoning, environmental, building, health or other govt codes or ordinances and that there is no material or other known defects or facts regarding the property that would adversely affect the value of the property."3. 

I prefer to not inherit other people's problems.Even if I was to give you a building for free, you'd still have to shell out money for inspection, environmental, due diligence, regulatory, lender and other reports (i.e. major $$$). 

Also, I've done the rental license inspection checklist, and it is basically just health and safety items every good landlord should want for their rental units anyway, so it is a minor inconvenience and a small cost every four years.Denver is still a great place to buy, even with the rental license component now. 

All of these components will make a big impact on how and if it can be financed.Once I hear back I can elaborate on what your options would be for financing

You can most likely combine a 7A (prime+2%, 10 years) on the business component of the sale and a 504 (Prime -2%, 25 years) on the real estate component.Be prepared to pay for at least an EPA Phase 1 inspection and depending on the outcome, a Phase II. 

As you also mention interest rates are on component.

There has been an environmental remediation company sent in to work on the spill (let’s just say it was almost 100 gallons, in order to keep this anonymous). 

There are just too many markets that I feel are too expensive, or the threat of environmental hazards would keep me up at night.

You need a team known as your core 4 valuable components that are tools you need to make success in real estate. 1.