The institutional space is dominated by the "big three" REITs (VTR, HCP, HCN).The product type is very similar to multi family and lodging with a healthcare component.

It wasn't me, as I was the broker in a commercial transaction, but hard contract for over 3 years.Sold an old car dealership to a national retailer that took forever due to town permits and environmental issues. 

There are a lot of factors that impact total billed amount outside of the PA--environmental, title, difficult other party, etc. 

Breaking the components down one at a time.

It's all in how you bring the components together once you have everything.

@Joshua Adewuyi I agree that’s it’s extremely difficult to predict the outcome given the unprecedented factors at play, and I also agree it’s incorrect to compare this to 2018. 2018 had two unique components to it: higher and higher risk loans were given out, and the financial industry committed fraud by misrepresenting that risk, exposing the global financial industry that in many cases were unaware of the true underlying risk of the products they had bought.

I would move to a phase 2 environmental before with a tank locate or a clause that if there are tanks- that the contract can be terminated or the seller would cover the costs.    

It may help to get say, an environmental report to ease any concerns zoning or the community may have but usually isn't the case with a smaller project. 

The tax code is set up to encourage commerce/transactions and the exponential economic and tax impact on the sales agents, appraisers, mortgage brokers, sellers, property inspectors, contractors, cost segregation firms, attorneys, title companies, environmental inspectors...the list goes on...is huge.

Its simply renovation remodel business for commercial purposes.. then you throw in the PM component which most turnkey if they are of size own the PM or are closely  affiliated with one..