I would just cap it generously to only catch abusers and figure the normal running costs in your rent. 

@James Hamling is mistaken as usual; but that's normally the case with him.Lol, yeah what do I know I only manage 1,500 odd SFR's. 

I am the type of person that is normally looking to save a money to increase my investing so the thought of paying someone to do my taxes when we could do them ourselves didn't make sense. 

It could be fast tracked or it could take 6+ months as government stuff normally does. 

So, normalize those values, the state each year will determine the ratio by which the assessment differ's from today's values.

Rents for medium term rentals usually range from 1.5 times to 2 times the normal rent for a place.

I reached out to the individual marketing the deal to schedule a property viewing, but they’re asking for proof of funds (which I expected) and a signed purchase agreement or LOI.Is this normal?

It’s a very good buffet and it normally costs $13-$15, so it’s a small discount to get some good food, learn, and network.

LTV is normally expressed as a percentage and that percentage is of the ARV.

Not likely), vacancy (@ 8% for me), and a possible PM (10% normally).I recommend you reach out to a local seasoned investor and have them run your #s with you, as the #s depend on how you manage it (how hands on you are) and also local pricing.