I would need more information to assess your deal.

I am going to bump this up to 20% and assess my offer value.

Such as what to look for and assessing value and laws etc.

That is the most we pay for a property.For example:Retail Value = $300,000Auction Value = $200,000 (300k/1.5)There is a lot of math that goes into the 1.5 rule - like carry, taxes, commissions, assumed profit margin, assessments, and years of experience, etc..

Of all of the properties that were sold to 3rd party bidders the sale price was averaging 102% of the assessed value.

I agree with David's assessment, very good advice.

I always like to take a camera so that I can better assess what I saw when I was there.

start with "allegheny county recorder of deeds" e.g. http://www.alleghenycounty.us/re/From this site: "The Department of Real Estate is the consolidation of the Office of the Recorder of Deeds and the mapping and ownership sections of the Office of Property Assessments.

Not to mention special assessments.

If you're buying without title insurance and getting a quit claim, all bets are off.Yes, you will owe dues from the day you purchase, regardless or when, or if, it ever reopens.Since the HOA is insolvent, its highly likely that if it ever gets solvent, you will be facing a very large assessment to pay for the deferred maintenance and any outstanding bills.