I recommend consulting with a lawyer or a company that deals with setting up entities to assess what's best for you.

County has assessed for 200k but is worth more due to the area they are building homes left and right on that road and they are selling 300k+ and up.

Do to the state mandates that require 100% reserves in all categories, combined with the rising cost of their neighborhood insurance policy, my strong recommendation is you find out what further anticipated spikes in association dues & if any possible special assessments are looming.

Here's why:The Multi-State Chess Game:• Client had properties in 3 states• Each state has different deadlines to assess taxes• Federal changes trigger automatic state assessments• Timing the response saved $45K in state taxes🏠 Real Estate Investor Pro Tip:States can't assess back taxes if their statute of limitations expires before federal changes finalize.

Self managed HOAs are usually undercapitalized so you want to take a thorough review of the condition of the community to make sure there isn’t deferred maintenance because you might get hit with a special assessment if the board isn’t setting aside cash for those capital improvements.At face value, taking into consideration my typical financial objectives, I wouldn’t do this deal unless it was a much lower price.

Ask the people in Florida who now have sky high insurance and mandatory unplanned assessments, how much value having a paid off property is. 

•Our company has proprietary AI models designed to accurately assess listing quality through images, which would power this feature.2.Smart Weighting:•Automatically weigh comps based on their reliability.

Also , I would love to connect with any agents who specialize in STR market in Boston Mass area. airdna is pretty accurate . lenders use it to assess rental comps for short terms rentals when financing a short term rental  I use it for DSCR loans as well; it is accurate yet conservative because it gives you the median 50 percentile for the area based on comps.

Your assessment is fair for sure.   

Some areas allow sub-metering instead, which might be cheaper.I would contact a local contractor or utility company to assess your property and get quotes.