Medium term (3-7 years): generate $5,000 per month (children's school costs plus mortgage on new home, will need to assess if to hold on to condo or not.

Here I compare the balance and arrears to the tax assessed value.  

Here is the deal, we sent out direct mail and got a ton of leads, this is one.House: Duplex 3 bedrooms 1 bathroom downstairs/1 bedroom 1 bathroom upstairs, 2 stall detached garage, owner states not a lot of repairs needed (maybe $2,000 total)Current Rent: $1,225 totalHouse assessed at $96,000Current owner owes $52,000Wholesale offer (from our formula that would make sense for us to buy it wholesale): $53,000 cash - owner declined (too low)If we keep it to rent out do we get a hard or private money loan to purchase for a higher cash offer (we think he would take $70,000) and then take it to the bank after a certain amount of time to get a conventional loan because we will have almost 30% equity in it when we buy it?

After watching the live podcast from Brandon  I now feel confident in my ability to assess a property and make sure i have enough room to make a little money. thanks for the tools necessary to become successful in this business. 

I spoke to community development about this and they too have said there is nothing commercial about the property, although the comprehension plan allows it, but it would have be approved by the committee and neighborhood.

But if there is a major capital expense, like a new roof, they will probably do a special assessment.

The exemption is subtracted from the assessed value before the tax rate is applied.  

@Ryan Andersen the most comprehensive guide to understanding, purchasing, and operating mobile home parks is from the Mobile Home University website (coincidentally authored by Frank and his business partner who responded to you earlier - he's not a self-promoter on BP so I will happily do it).  

Tons of great food.I agree with the assessment here.

This was a special assessment that was approved by the previous owner.