Department of TreasureState Tax LienLien by USA or Dept of JusticeUS Department of StateOther Federal AgenciesFrequent Superior Foreclosure-Liens:Code Enforcement for debris removal or mowingDemolition or Environmental Based Liens State child support lienUtility LiensWater/Sewer Delinquency (only in selected states)County (and/or School/Township) for unpaid taxesHere are some of the judgment and liens that will be wiped off from the property (not the borrower who lost the title) if the lien holders were properly notified and "had the right to bid on the property at the auction":2nd and junior position mortgages, such as home equity loans, etc...Credit Card Judgments recorded after the foreclosing mortgage Personal Judgments recorded after the foreclosing mortgageMechanic's Liens recorded after the foreclosing mortgageHope this helps.  

Look at the Lumina building, retailing condos at $3k per square foot in many of the units. 

It specifically calls out renting for less than monthly more than 3 times a year.It would classified as "transient use" which is not allowed in residential"Residential uses means, for the purpose of these regulations, single-family, child foster home, community residential home, garage apartment, duplex, multifamily, town house, boarding and rooming house, domiciliary and retirement home, and nursing home, which are available for occupancy on no less than a monthly basis, or for less than a monthly basis three or fewer times in any consecutive 365-day period.

I am starting at square one in REI, and BP looks like an amazing resource to help get me started off on the right foot! 

Your best bet to putting together a spread sheet you can use over and over is to get quotes from local contractors then make that your data base on a per square foot basis, unit basis or per linear foot.

I suppose if he did not it could have been a different outcome.I am building in Charleston SC right now.. and we have encroachments all over the place on virtually every infill lot we are building. on.. usually fence 1 foot over... air conditioner sticking over the line etc.. we usually try to just get an easement.. because the burden is on us when we go to get the new building permit.

They want to make sure you do not own taxes and child support

The vacancy rate is currently under 10%.The responsibilities of the current owners is just paying the bills.I am looking for creative ways to acquire this portfolio but have little cash funds available because I just purchased my personal home 4 months ago on an 20% down, 15yr fixed mortgage.Here are the numbers on the portfolio:Gross Rent: $65,000Annual Operating Expenses: $26,750Management Fee: 10% of collectionsAnnual maintenance: ~$3,500Annual Operations: ~$3,750Annual Taxed/Ins: ~$13,500NOI before reserves and Debt svc: $35,000The current owner is liquidating the portfolio to pay for a child's college.

Sorry to be so needy but I'm trying to wrap my head around this property and I'm driving myself insane :)Legally this is a 1 story 640 Sq foot 1 bed 1 bath home in Chester County PA.  

Appraisers will look for other multis in similar areas (doesn't have to be the SAME neighborhood, if it is a similar neighborhood) and figure out cost per door, cap rate (looks like you're buying at 6.9), and usually a third method (cost per square foot or cost per bedroom) and then use those three in a weighted average (weights for each method will vary) and come up with an appraisal.