I have an opportunity to pick up a place in this town of Rock Hill, NY and wondered if there were any BP’ers nearby that could help be my boots on the ground if I pulled the trigger on this one.

I would want to determine if the current lienholder has a due on sale clause. 

How did you determine what it will rent for?

Two follow up questions(1) If the town does not re-assess on a refi, does it just assess based on its pre-determined schedule for assessing properties?

Two follow up questions(1) If the town does not re-assess on a refi, does it just assess based on its pre-determined schedule for assessing properties?

I am just picking random properties from Zillow and putting in the numbers to see what comes out. 

Once you have a property under contract have it inspected to determine the current condition and life expectancy of all major components and appliances.  

Picked up a house a few months ago in Midwest city. 

Any sort of shortcut is not to replace a proper analysis and thorough due diligence, but if you're analyzing a ton of deals, a quick a shortcut may be helpful to determine if a deep analysis is warranted.

@Jim Growfer think it's okay to use the 50% rule to quickly gauge NOI and determine if a project is worth deeper analysis. 7% interest is high and yes, that would be a bad deal if you only netted $10k on a $2 million purchase.