For reference, according to tax record the house was sold in December of 2005 for $88,000. 2008 Tax assessed value is $65,500, Cyberhome estimate is $82,863.

The other shoe waiting to drop in condos is a special assessment.

Is it possible to wholesale a REO property for more than double of what you have it under contract for with out doing any fixing as long as there is enough equity. example: 1) Put REO under contract for 30k.2) House Assessed value is 110k3) I want to sell it for 70k.Is this possible, or does it depend on the buyers lender.

Make sure the HOA is in good financial standing ... no pending lawsuits, no special assessments, plenty of money in reserves, etc.

If so, the property taxes are based on the county assessment, and wouldn't be directly affected by what you pay.

The $46M tax assessed value isn't the true value of the property which is I presume a multi unit complex.

Currently the assessed value is $_________ or greater than $_______ in Market Value!

No appraisal on 8 unit, but town has it assessed at 230k.

Assessed value is made up of land/improvement.

Vacancies (not really an expense, but rent you don't get all the same), maintenance (yes, even with the HOA, and even if fixed up because the tenants will cause much of it), utilities at least when its vacant, special assessments by the HOA, evictions, legal fees, major tenant damage, etc.