I can surely see an acquisition / disposition and maybe an asset management fee on these deals, but without value add component and active role in turning around the property a waterfall structure seems a bit over the top to me. 

It hits all the main components for me, however, I'm always looking for ways to streamline. 

(Google online how to do that.)On the county's GIS, you can find out lots of information about the land...like the actual acreage, parcel shape, you can look for any recorded easements or environmental health permits, etc.   

Just making sure I’m clear on what your asking.In the states for a park purchase your going to want to conduct a Phase 1 environmental test to make sure that the land is free of any hazardous waste contamination.

Maybe check with your state’s fish and game department and your state environmental protection department to see who they work with or have heard of?

Yes,  they measured all components of properties and split them into different depreciation categories.  

It's just the environmental destruction is hard to stomach.

Another interesting component of this is real estate generally speaking is 1099 commission based, not W-2, so I'm curious how this will play in with skill bridge.

That being said, the City still wants to ensure the work was being done per code (i.e. having a rough inspection while components are exposed) and then close out the permit with a Final inspection.

Check with the state environmental inspectors for violations with respect to that dump station, it's condition and inspections, that could be a big cost.