I target pre-existing, non-conforming lots that town assessors have deemed unbuildable either through a land use code or a very low tax assessment.  

We bought our first rental property, a duplex in Portsmouth, VA, in what we assessed was a C neighborhood in March 2023.

Sometimes, properties owned by non-profits have deed restrictions, zoning conditions, or agreements tied to their use.Tax Considerations: Non-profits often hold tax-exempt status, so you’ll need to ensure that taxes are assessed correctly once ownership transfers to you.Potential Public or Internal Scrutiny: If the transaction appears to undervalue the property or is perceived as exploiting a non-profit’s resources, it could lead to reputational risks for you or the organization.

When it comes to assessing maintenance costs, one of the best approaches is to request itemized breakdowns for larger repairs.

We're new to looking at AirDNA numbers and assessing where we would fit.

You must exclude the land value, typically allocated based on property tax assessments or an appraisal, as land is non-depreciable.

Start by scheduling a walk-through to assess the property and confirm renovation needs.

It's rarely talked about, it seems.I looked at some listing in the Research Triangle in North Carolina but the cash flow doesn't seem great, especially there could be a major assessed value/property tax increase as there was a lag of 4 years in NC.

He believes that area where he will be buying the new homes is going to appreciate and attract more MTRenters, but now, the big difference is that he would now have 3 properties that can go up (or potentially down) in value, go up (or down) in rent, and three times as many vacancies to fill.My back of the napkin assessment is that for only a drop in $200 a month in cash flow, he would control a lot more assets with growth potential and as rents rise over the coming years, the combined rents will increase to a total more than the single rent.HOWEVER.

I would see how the home inspection goes (get someone good) and make a assessment than on how you want to proceed.