POTENTIAL FLIP - OIL TANK

[Jake Drappi]

Hello BP

I am a rookie investor looking to get started with potential BRRR. I found a property that has been listed for a few years and has had multiple sales fall through. I was able to find out that the property had an oil tank that was removed, but the sales keep falling through because the owner is having problems with the oil remediation. I am waiting on more details, but what are some of the problems that I could potentially encounter if I were to pursue this property and what solutions have you used to fix the situation? On top of that, they are also having issues with the existing tenant. Being that the property has been listed for so long and there are a few major issues, I am thinking of putting in a lowball cash offer (I am not a fan of lowballing, but I think this could be a win win). However, I am not sure of how big of an issue oil tank problems are. Is this something that other investors would consider or should I walk from this before I get involved?

Thanks!

Jake Drappi