But if you plan on renovating it, then pulling building permits and getting inspections could be a problem.

The only way it can change TAV here is if you make "major" (i.e. pull a permit stuff) improvements.I've worked with a couple of guys on appealing prop taxes. 

Why bother with the hassle if it's not permitted?

This parcel has several problems, the primary issues at hand are that no permits have been issued for well, septic, and structures.

I got the second dumpster & permit logged already, just need labor for the week.

General contractor did not get a permit yet.Is that permit different from the process for Certificate of Occupancy?

In addition to your questions, I pre-qualify prospective tenants based on income and the ability to move within 30 days – I need those two criteria met at a minimum to permit a private showing of the property.  

...and I might add @Jamie Milton that eXp Realty is very Investor-friendly in that they permit you to process 3 personal deals per year at 100% commission.  

There is another company appearing before the council regularly for an attempt to get a permit for a $300 Million dollar housing complex.

The remainder being built is mostly income-qualified = lower profit and not much motivation without a lot of "free" money.2) Soft costs like permits, fees, SDCs up to about $25K/unit.