Assess risk. 

How do I make this assessment?

The Pacific Northwest is competitive, so leveraging those connections can be a game-changer.Second, when analyzing deals, ensure you’re building a framework to assess not just the property’s performance today but its future potential.

As a new investor, it is very hard for you to assess risk. 

As a self proclaimed rookie, I recommend starting by conducting your own initial assessment of the property.

The city screwed up and liened Direct Charges on the common area which has an assessed value placeholder of $1. 

you will need to look at the APN of the property and line it up with what you actaully bought. as mentioned the tax assessed value is not an indicator of value. the land could be a utility easement, used for stormwater management etc.

It is assessable only via boat.

It’s so comprehensive that I’m compelled to give you a great answer, but there is so much to unpack that a full proper answer to every question may take longer than I have tonight.

I could use gross income or have the property assessed for assets and it would come out to at least $1M.