About 2.7 years into the 30-year mortgage.Local mortgage broker has quoted me a refi of 30-yr fixed, 4.88% with a P+I of $613.88, will have enough equity for no PMI.I believe I can rent the unit for $825/month starting in June.As to the appreciation issue, our tax re-assessments just came out countywide, with the average county reassessment being 22% increase in value since 2005.

Many people who bid in the nicer counties like Howard County just go by the assessed value. 3) In Maryland you do not have to pay subsequent taxes until you foreclose and then you need to pay them in order to record your deed. 4) In Maryland all mortgages and debts against the properties are wiped out in the foreclosure process (except IRS liens).

Jon gave you an excellent assessment, but now you need the rest of the numbers to make an informed decision.Good Luck,Mike

There are an increasing number of condo developments where higher assessments are imposed subsequently...

Lots of variables in your assessments.

I've got assessed total of the property @ 62.9k I've still got to do some research and find out the specifics of his lease agreement as in how much is left on it etc.

- If you haven't seen the property yet, what are you basing your assessment of the property on?

Since my property does fall well within the 50% rule, I probably will not have a loss...although the assessed value is pretty high, my cash flow will be pretty high as well.

Will he be able to assess the ARV?

$3,000 / month in rental income (6 x $500)less 50% for expenses = $1,500 / month$180,000 purchase price$ 25,000 renostotal investment of $205,000205,000 @ 7% & 30 years = $1350 / month+$150 / month* worst house on a good street (properties on both sides assessed at over $300k)* could tighten management of property to reduce expenses to less than 50%Thoughts?