But before you waste your time, is the seller motivated?

Don't let the resources here go to waste.

But, by specifically stating a "Cash Flow" number that doesn't include these expenses, you ARE ignoring them.To not ignore them, your cash flow statement should be, for example:Cash Flow: $309 MINUS OPERATING EXPENSESAt very least, you should include a disclaimer to the effect of, "The Cash Flow and ROI numbers do not reflect the inclusion of operating expenses; actual cash flow and ROI will be lower."

The exception is things that are billed just once a year and that are effectively taxes.

It may not be much more than one of the items I listed above and doesn't necessarily make the place a toxic waste dump.

In some ways it kind of seems like a waste when a lot of people in the area would probably love to have that tax rate.

For instance, a goal in your plan may be 'building an effective buyer list'.

If you have a net operating income of $40k and the offer is $100k per acre for 3 acres the effective cap rate at the offer price is 13.33%.

You need to know your market, occupancy and competitive rent rates, renter expectations, your goals, risk tolerance, temperament, and your resources.You need to know your local tax rates, state/local landlord rules, housing authorities, insurance sources, financing options, occupancy and employment trends.There are crazy tenants but effective management can minimize the risks.Good luck.

Now we are wasting time & money due to the upcoming Holidays!