@Sylvia B.Well, when you know and work with landlords who have dozens and ME who owns 4 in the DMV.... - all these situations come up.

With foreclosed condos you need to be aware of unpaid assessments because that could potentially add a lot to your initial costs. 

REIA group meeting and meetup's are great opportunities to network and establish relationships with other investors.There is a lot more information that is needed for anyone to give any type of assessment that would be helpful to you.

The BRRRRs are great for those with not much funds but time on their hands to do the work IMHO.We have a few dozen rentals and are tapped out of our own cash (a lot of them are in SDIRAs and SOLO401Ks so we cant use cash flow yet) and are starting to invest with 'Private Money Partners', not lenders.

@Mark Karelin one of the better recommendations from the BP podcast is to do a personality assessment when you have a partnership.

In it I worked with one of the largest property manager's in Birmingham to grade all of the neighborhoods in the metro area on an A-F scale so investors can assess the level of risk with a particular property.

I interviewed a few property managers as well and I must have connected with over a half dozen lenders.

I saw James Wise quote the current taxes however if the property sells for a new higher price won't the property taxes be based on the new market assessment (new market price) and thus much higher? 

Upon sale at $600k, the property taxes may increase depending on how the city assesses taxes.In my experience, a tenant will generally be okay with paying fair market value if they have a stable business.

There are about a dozen different neighborhoods that are considered Near Eastside.