If I get a response on one of the properties, I will then assess the value and financial situation, see how much they owe and proceed accordingly with a short sale (if possible) or simply buy the house from them.  

Our downtown area has had a huge revamp, we're one of the hottest destinations for college-educated millennials (which is great for the economy and future population growth), and our unemployment rate has been dropping steadily, https://data.bls.gov/timeseries/LAUMT0113820000000...One of our team members worked up a pretty comprehensive report with some great stats on this market, so anyone can feel free to reach out via DM and I'll shoot it over, or you can download it for free over at Keith Weinhold's awesome site, Get Rich Education: http://www.getricheducation.com/project/117-birmin...

The good thing is that our house will be in this situation for a while so we'll be able to get our taxable assessed value down to probably 30/40k (from 210,000) over the next 5/10 years.  

The city assessment has nothing to do with the fair market value of the building nor the financing aspect.

The OM that I have seen also says that the leasee is the local LLC and the gaurontor is the corporation.. would that help in your assessment?  

I was recently assessed a $200 charge from my HOA on my personal residence in Chicago.

Brett also took afterward to walk the property and give a first-hand assessment.

Terry has prepared as comprehensive report on the situation at Village Green.

The neighbors get foreclosed on more than typical neighborhoods and that keeps values lower for longer.2) HOA association decides to levy a $20K assessment on all owners in the neighborhood in order to upgrade everyone's windows, decks, roofs, and siding.3) HOA increases monthly dues by $250 per month in lieu of a large special assessment. 

They have as of yet been unable to get to the property to assess the damage.