At least in Ontario, meth labs or grow ops are required to have extensive remediation done, with inspections by the province. 

You can put in an extension clause in your contract. 

You'll find extensive info on this issue at http://www.ecy.wa.gov/programs/tcp/sites_brochure/... and an overlay on a satellite view of the original plant at http://www.ecy.wa.gov/programs/tcp/sites_brochure/...

For now my Realtor has asked for inspection response extension.

What type of research do I need to conduct on condo building facilities (other than a kick the tire review)? 

The "minor leveling" would probably be an extensive slab repair. 

A principal, of course, is someone who has the ability to conduct business with you.

Give him no more extensions, no matter what he says or promises.

That is one other reason for us - we only allow two year leases and have a 77% success rate of getting a tenant to complete their lease and sign a new extension.  

There can't be penalties on Act of nature delays, it is not something that can be anticipated, on our end, a weather delay will always be an approved time extension.