The fact that you felt the need to bring up your MBA and your income leads me to believe my original assessment was right on the money.

The mortgage info states 155k and assessed at 28K.

I assume the number will also change if the purchase price is much higher than the assess value from the county.

I have run the numbers, built models, evaluated pro-forma, but I am still nervous about my assumptions and my assessment of the market condition.

If the association is underaccrued for a big expense, you will end up staring at a 5 figure plus one time assessment when they need to replace the roofs or whatever.

When having to assess a property (what I should be paying for the land considering the work involved, how much to scrape and build new, assessing civil engineering costs, etc...), is there some kind of a formula to determine if it's worth moving forward?

After doing a bit of research, it seems that a lot of folks are asking well above the assessed value, is that common in this market?

You will assess a 10% penalty on the balance.

"How do/would you assess ARV.."

I am looking to buy a multi family property, however, the price that we would buy it for is ~$150k higher than the assessed value.