You have no obligation and neither does the environmental company have, unless it is obvious that there is the scent and oily appearance, then I think the company has the obligation to report.  

The other important factors are equity (from down payment, forced appreciation, and/or market appreciation) and cash reserves ... it is a combination of all of these things, consciously managed in an intelligent and complementary way that will save you.

Limiting how often we talk about our passion takes conscious effort and restraint.

=============================Title Insurance Company is irrevocably committed to issue to buyer an owners title insurance policy covering the property with standard coverage customary in the state where property is located showing liability in the amount of the purchase price and showing insurable title to the property vested in buyer, subject only to the following(a) Title Insurance company standard exceptions(b) Liens for all current general and special real property taxes and assessments not yet due and payable(c) liens of supplemental taxes, if any assessed(d) any facts an accurate survey and/or a personal inspection of the property may disclose(e) the mortgage/deed of trust/deed to secure debt lien in connection with any buyer financing(f) any laws, regulations, ordinances (including but not limited to, zoning, building and environmental ) as to the use, occupancy, subdivision or improvement of the property adopted or imposed by any governmental body, or the effect of any non-compliance with or any violation thereof, including but not limited to, any disclosure an/or report required by ordinance(g) rights of existing tenants and/or occupants of the property (if any)(h) covenants, restrictions, easements and other matters that do not materially impair the value of the property or the use thereof(i) non-monetary encumbrances disclosed to buyer in writing prior to entering into this agreement (j) any other matter for which the title insurance company agrees to provide insurance at no additional cost to buyer===========================================================

If there is slope on a lot that you are looking to buy, there may be an ECA (Environmentally Critical Area) or slide prone designation tagged onto the property.

In terms of due diligence, for example, for an acquisition FHA under Section 223(f) you would be looking at an Appraisal, Phase I Environmental Assessment, Capital Needs Assessment (depending on the age of the property it might include Asbestos and Lead Paint testing) and Radon testing (where applicable).

You can have them pay for their own water and garbage. saves you 12% (also makes them more conscious of water usage thus being of a more green mindset)You have prop mang at 10 %...will you be doing it yourself for a few years?

It might be an environmental issue and involve the EPA, lawyers, and a lot more than $5k. 

After PSA is signed then lender deposit is sent in and reports are ordered (environmental, site inspection, survey, appraisal,etc.) during due diligence period in the PSA ( we typically do 45 day close and the first 30 days of that are due diligence).

Alittle extra money never hurt anyone, and because there a lot of it in this buisness I have made the conscious decision to dive head first!