Seller Finance, Seasoning and Refinance

[Pat Mcchesney]

Hello Everyone, Was hoping a more seasoned investor might be able to shed some insight on a multi unit storage/commercial property  I am currently reviewing:

Current Tax  Assessed - 1,400,000

Purchase - 975,000

CashDown payment - 100,000

1 Year Seller Finance Payments - 72,000

Total Cash In @ 1 Year - 172,000 (17.6% of Purchase or 12.3% of Assessed)

Forced Equity (Assessed - Purchase) 425,000

Total Equity (Cash + value appreciation) @ 1 year - 597,000

Refi 803,000 to Pay off Balloon 

Loan to Assessed value - 57%

Loan to Purchase (does not include forced equity) - 82%

NOI with 5% Vacancy and 5% CapEx - 82,000

While the Tax assessed value is not the same as an actual bank appraisal I'm wondering how close these typically are? Additionally am i correct in assuming that the one year of seller financing will cover any title seasoning requirements, with forced equity, cash down and seller financing then covering the minimum % equity for a commercial loan of this size? 

Thanks in advance for any input!