Such preliminary title insurance report shall indicate that the form of title insurance contemplated by the report is a ALTA Owner's Policy Current updated titlecommitment with copies of all the underlying documents;i) The survey of the Property in the possession of the Seller; Buyer shall pay for any updates;j) Copies of any and all current or pending litigation, or notices of compliance work required by any authority, including but not limited to any agency of any local, state or federal government, concerning the Property;k) Copies of all Phase I and Phase II environmental engineering assessment reports in the possession of the Seller with respect to the Property, including details of any remedial environmental work currently under consideration, in process or performed on or in the Property during the last ten (10) years, including a detailed schedule of all such work which is either required by statute or law or which is contemplated or required hereinafter;l) Copies of any and all correspondence in possession of Seller from any local, state or federal government agency regarding (a) any zoning or re-zoning notices or applicationswith respect to the Property, or (b) any modifications to any highway or street which would in any way effect the Property, or (c) any existing or pending changes to FEMAflood maps directly affecting the Property that are in Seller’s possession;m) Copies of any and all correspondence in possession of Seller from any local fire department with respect to the Property.Should the Buyer find exception to any of the foregoing materials or to any studies thereof, then and in its sole opinion, the Buyer may terminate the Purchase Agreement upon written notice to the Seller prior to the expiration of the Feasibility Period.

I agree with Jon's assessment of the choice of state, and would add that IRAservices.com is my choice - cheap and efficient.

A 2009 Tax Assessment has the property at $235,000.

One thing I have been doing is assessing the cash-on-cash value of certain properties in my town.

The tax assessed value means nothing.

Try to find a competent contractor to assess repairs the same way.

When they look for a new place, and the new landlord wants to be told of their rental history, I explain to that landlord that they have been late "x" number of times but late fees were only assessed "y" number of times due to payments within the grace period.

You would assess the risk and if someone would give you 100k now to release the property you might just take it and run instead of incurring more expenses on hopes of seeing a full return sometime in the future.

For condos, capital items are often in the form of special assessments.

It's $69,900 ($159K Assess) and the listing says the house is situation on 8 lots zoned commercial.