If you believe your property’s assessed value is too high, you have the right to challenge it.

The market is slow currently and you need to check flood zones and assess insurance costs when underwriting a deal.

@David YoungTo turn your paid-off home into a successful investment property, start by formalizing a lease agreement, assessing necessary renovations to maximize rental appeal, and calculating your cash flow after expenses.

You can also assess a dollar amount that you value the cost of these requests to be, and ask for these as a discount from the purchase price or a concession to you for closing costs. 

Learn about the Net Operating Income (NOI) and Capitalization Rate (Cap Rate)—these are essential to analyzing the potential profitability of a property.Return on Investment (ROI): There are different ways to calculate ROI in real estate, such as looking at your total return after a sale or assessing your rental income versus initial investment.

Is there a more accurate way of assessing this? 

we are still assessing the rentals we manage but overall are just finding a few minor issues so far. 

I made a relatively low offer and after one negotiation we settled on a price that was about 45% lower than the original list price.

Also Condos are dealing with high special assessments.

They can't assess all the subjective data like overall layout, view from the living room window, the dogs next door that bark all day, the width of doorways, size of individual rooms, quality of kitchen cabinets and appliances, etc.The best thing to do is study your market regularly.