Hi BP Community,I've found a property for an investor In East Williamsburg, its a 6 unit and C-2 zoned. The taxes are incredibly high for this type of commercial property and I was hoping somebody might have some advi...

Further, the large discrepancy causing some homeowners' tax assessments to date back to 30 years ago is because of Prop 13 that protects older, long-time homeowners from higher tax assessments/ tax payments in CA (it limits the increase on tax assessments to a certain percentage of the previous year unless the property changes ownership, at which point the tax assessed value is updated within 12 mos of the close usually). 

Hi Sherry,I would think that the answer to you question is "it depends" on how important those 500sf are for your investment.If it is very important then yes, you should cancel.If it is of medium importance, then renegotiate better a better based on the missing sf and if they don't lower the price then you can cancel the offer before the contingency period ends.If it is irrelevant, then why cancel, maybe try to renegotiate but don't be to hard.Have you inquired as to the discrepancy?

As far as the discrepancy in price, 75k vs 95k I don't believe it was the result of other folks bidding. 

This person would complete as a job description but not limited to:-Have experience with HUD subsidy program and section 8 voucher program-Work with Maintenance Coordinator to get Work completed-Call or Visit CHA offices to address issues that arise in discrepancies or human error on CHA's side.

https://www.biggerpockets.com/calculators/shared/3...Id like to know if the BP community can help me identify if this is a good investment or not Or point out some discrepancies in my analysis.My goal is cash flow, but will settle for tenants covering the payments.

https://www.biggerpockets.com/calculators/shared/3...Id like to know if the BP community can help me identify if this is a good investment or not Or point out some discrepancies in my analysis.My goal is to have this as a rental to cash flow, but will settle for tenants covering the payments. 

If you are audited, and they find large discrepancies, the Tenant will expect answers and an immediate credit, and in some circumstances make the Landlord pay for the audit.

The seller has accepted my letter of intent, and this initial due diligence phase has uncovered some discrepancies.  

The property is listed at $549,900 and it has been on the market for 1,176 days--it is also a foreclosure.The assessed value from the auditor's site is $290,000.Why the BIG discrepancy?