You really have to know how to do your numbers.A lot of that may come down to the property taxes.

@Sushil IyerWith my experience, to analyze properties effectively, you can start with resources like MLS listings, Crexi/Loopnet, tax assessor websites, or paid tools like Costar and Reonomy.

Apart from ACH, which is free vs. a fee on other platforms, the software also keeps track of property analytics and can create a statement of cash flows (NOI/Net Income views also available) and has export functions to give your CPA come tax time.

We did live in the house for 2 of the last 5 years, so we wouldn't have to pay capital gains tax.

Taxes/Expense:   flow through our personal taxes.Questions:a.

I finally sold it for a small fraction of what I paid for it, but I was out from under the HOA fees and taxes which at about $1,700. per year, which is a sizeable sum for me, and as we know, these fees increase every year.Bottom line is, DO NOT purchase property there for an investment. 

Plus financing and tax prep will be cheaper.

without comparing property tax and maintenance costs the 1% rule is meaningless.

What is the current tax on the property?

I owe no back taxes and I am currently up to date on my mortgage.