But the other side of the coin is correct - the downside, and it can be huge, is potential assessments from HOAs who aren't solvent enough for new roofs or roads or maintenance.

Towns in New Jersey can be wildly crooked and will try to assess you for things they missed on prior renovations before you even bought the property, which technically they can do.

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

Structurally, the property is in pretty good shape EXCEPT one problem that I cannot properly assess: the plumbing will not hold pressure.

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.

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

@Brian Larson - Are you asking how to assess rental demand in any given market? 

Your internet provider will have modems that are compatible and they'll probably provide you one as well.

Still assessing if it was the property itself or the property class.

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