It won't be 100% accurate, but it will be close enough.

If you close with a conventional loan, it will need to be in your personal name.

And the reality was I only put 20% down plus closing costs.

.- These fees are due at closing and are part of the overall transaction costs.6.

Recent sale of the assessed property is de facto value.Expert is needed for anything else.They can raise the value if you appeal.Comparable sales only count if they were closed before the lien date which is one year prior to the tax bill date.

It's a wholesale deal close to downtown and I want to build a portfolio of duplexes for buy and holds because of the ROI.

Purchase price: $15,000 Cash invested: $25,000 Sub to deal - paid the seller and wholesaler $15,000 + $7500 closing costs to assume $84,000 mortgage with a monthly PITI of $575.

I of course would need to look for the deals and do letter of intents on properties and find them and they would come with me to the closing table pulling out equity and then getting the cashflow.

Closing costs + rent ready costs + lease out costs - those you need to be compensated for and new investors are always surprised that they can add up to 5 or 10 or 15K.  

Despite the guru fed “misinformation” about all these under market price deals, they are actually very rare and require (1) the investor recognizing value that the seller and the rest of the market misses or (2) a seller with a need for an immediate sale and a buyer with the CASH immediately available to conclude a very quick closing usually forgoing inspections, financing, and other contingencies.