I single assessment has the potential to wipe years of profit and which is contrary to why we're investing.You mention your industry is ridiculously competitive - do you mind if I ask what industry is that?

Relatively well organized and easily digestible information (I am not affiliated with the site in any way, just came across it via Google search).Keep us informed as to your progress and best of luck!

A special assessment can be levied at a moment's notice . . and there goes your profit margin.

Has Fireplace in each living room, formal dining room w/ built-ins, hardwoods under carpet in living/dining rooms, and hardwoods in bedroomsHere's what I see as the big kicker: There are $62,000 in back taxes from the last 3 years unpaid, which includes a host of assessments and vacant building fees. the owner is elderly and has early Alzheimer's, so I believe he has neglected these partially due to this and partially due to his being angry at the situation (lawsuit + city issues).ARV on the house is around $425,000 and I think I could buy it for around 35% of value and would have to pay the taxes and do all repairs/updates which I estimate would be around $60,000 total.  

But I'm definitely not going to rush into this ;)@Wayne Brooks I agree that I can't expect for existing owners to wait for months of what-if's from the county building/zoning/permitting department to fully approve my project before completing the lot purchase, but I'll definitely need 15-30 days just to get a proper site assessment to determine build feasibility and basic initial response from whomever I can speak to in person at the county regarding my design intentions.  

I do believe that those things (ie. lack of resources) can actually be real and serious reasons to impede progress but according to the quote, the bigger enemy is ourselves.

Great to hear your progress.

I understand I might be responsible for mechanical liens or back taxes or past due HOA assessments but I have a hard time to understand if I might be responsible for other mortgages as well. in the attached picture you will see the flow of recorded documents. asking attorney to do a title check for every property is not possible. the below is public information that can be looked up by anyone

On my phone and haven't even opened the link but I am going to say based on the address that the monthly assessments are ridiculously high.

Looking to figure out a next buy, educating myself as much/quickly as I can, networking, and working on getting my real estate license as a way to get more knowledgeable and perhaps open some additional doors (I think I found BG googling pros and cons of getting a license as a way to progress as an investor).