But there are many ways to mitigate that. 

If the builder is cost plus (instead of a fixed cost) on something with a foundation expense like that it could be dangerous for an owner/buyer. due to the cost running over substantially.

L241: TRACT FUTUREL242: TRACT URBANL322: MITIGATION LANDSL119: IMPROVED SUBURBAN

Manage the debt process as this is, in my opinion, one of the biggest risks that a sponsor needs to mitigate in the deal.In addition, communication is key, so always maintain constant communication with all parties involved from Title folks all the way to your investors! 

Which makes for a dangerous investment.This property has an existing Steel building, which we will rent out, but we have to build around.

You wont be able to evict unless the lease is up or they are month to month. 2) I am not sure of your local laws, but in MN we cannot evict right now unless there are unlawful reasons and they are a danger to others (this at least was the last I heard for our laws). 

However, it might be worth it to attract the right renters if you delay briefly just until you’ve done what you can to hopefully mitigate or eliminate the smoke smell.

I have done this for two reasons, to mitigate whatever damage is being done to the property especially if there is still value in saving the structure.

Here's why:Let's say I sign a tenant to a one-year lease, and 3 months in, their personal/professional situation changes, and they break their lease and move out after a 30-day notice (or maybe less).I am required, by law in most areas, to "mitigate my loss" by remarketing the unit, making it rent-ready, and starting up my lead generation machine to get applicants, funnel them into my screening system, identifying good candidates and ultimately leasing them up.

Much risk can be mitigated by only loaning locally to experienced borrowers.