It depends on your attention span.

Depending on the building, it could have some very, very expensive mechanical systems close to the end of there life span.

I went through two different layoffs in the span of 6 months and the second one got me.

He means that he finds the After Repair Value of the house using the price of comparable houses that have sold within say a 1 mile radius and within a short time-span and estimates the cost of repairs and works that into his offer. 

I have had a 3 BR with 7 (5 kids) and they thrashed the place in a short time span.  

I work as a maintenance tech for a property management company spanning multiple apartment complexes throughout the Portland metro area.

A mile in Philadelphia can span 7 neighborhoods and can be the difference of a million dollars.

The theory goes ... we have 500 homes paying $1000.00 in property taxes a year or we can have a business paying $2M in pt.Another problem is people's attention span.

If you have done proper analysis and the house will appraise at $72k (it really should appraise above, you want to CREATE value) then a 30 year mortgage, 20% down (take out $57,600 in equity), fixed at 4%, the monthly payment should be ~$277 based on a simple payment calculation in excel.Taxes and insurance should be low on a property that is small and recently renovated (CAPEX shouldn't occur in 5-7 year span if your rehab is done properly).

Truths":Municipality is a governing unit, not a physical boundaryStates are the major division of the countryCounties are major divisions of the stateTowns are major divisions of the countyVillages and cities are located within a town or townsVillages and cities are located within a county or countiesAll towns in NY are within a single countyCities and villages may or may not be named the same as the town(s) they are located withinSchool Districts can span multiple counties, thus they can span multiple cities and villagesVisual Sketch:Thanks!