We have teams driving for dollars every day in Tucson and Kansas City.)Once under contract our construction arm put together a comprehensive estimate for the remodel and our investment team began running a financial analysis and a market CMA.

You still need to set aside money for management, cap ex, and don't forget the wonderful world of special assessments in the wonderful world of condos.Let us know what you are anticipating the numbers to be that would make you want to invest in this but at this moment I just don't see this making sense.

I have one that has to be renewed every 18 months), so theoretically you could be in a situation where if you had a loss of income , or if interest rates skyrocket, you could be at risk of renewing the loan.Its not necessarily the end of the world, but its something to think about when it involves your personal home.Also, my understanding is that once you have held a property for 6 months, you can get a new loan and the lender will look at the new assessed value.  

To say that school ratings do not make a difference in assessing the value and risk of the investment though is disingenuous. 

I don't like that lack of control and risk of wildly increasing HOA fees and/or special assessments.

You would have a locked in 27k profit if buyer exercises option or you will have a property that is assessed at 120k and has massive equity already built in.

Then there is a matter of risk you take on to get your profit, with goes hand and hand with knowledge and control that can be exerted to assess, hedge, or otherwise avoid these risks ... how able are you going to be able to do that in a market you don't know thousands of miles away?!?

However, if you are truly trying to assess blame and have the person at fault pay for the loss, I would probably start by looking in the mirror and admitting that I was 70-80% to blame.Once, during a short vacancy, I had to have the water and electricity cut on in my name at one of my properties, as I often do during turnover to make make-ready and showings easier. 

Hence I'm trying to assess the biotech growth more than the low wage jobs the amazon facility will likely generate.

There are also what are known as "special assessments" like what you described (among other things) and you'd call the borough or township office to ask if there are any special assessments in the works for where your potential property is located.