Sometimes these properties just keep adding taxes due which is how you wind up with $3000 assessed houses with $75,000 in taxes due.

You need to know all the rules, their average assessment cost per year, how much money they have in reserve, rules on renting, rules on renovation, and so on.

Not sure where your assessment of Indiana is coming from but in the hour radius around where I live (which includes a population of over 1M) the appreciation rates are at national averages or higher in many areas.

Rents in the area go between 1,200 and 1,325 (one listed at 1,325 right now).Home needs roughly 10,000 in TLC (paint, flooring, odds and ends), no other fees or assessments on the house and it has a clear title.House is currently rented well below market at 800 a month and can and will be increased this year (February).FYI. this house is not currently on the market.Thanks in advance to all those that reply :D

Hi Jordan,I agree with Nicole, Condos can look attractive initially, but you have to do your due diligence, There are a lot more potential costs that are out of your control from COA fees, special assessments, violations, etc. than a SFR or small multi family.

For buy and hold rentals, I like 2-4 unit properties....on the sf versus condos, I have done condos and you just have to look out for more issues related to rent restrictions, dues, assessments, reserves, politics, etc. but people make it work, often buying for less than a single family and letting the association handle exterior maintenance.

I don't know if that's a fair assessment or not, because I'm not factoring in my student loan payments - I consider paying them off to be 'saving' money.

The seller is asking the assessment price of about 50K, ARV would be around 65-70K.

I would like to assess what type of return rates all of you who have experience in the rental market require for a deal to be good.

I recommend connecting with local investors to assess their experience.