I dont know if im missing something but the property has been on realtor for over 250+ days.These are the numbers----Purchase Price: 100kSq Ft: 1500Property tax: 1800 per yearInsurance: 432 Per yearTotal Gross Rent: 2,500 monthly Expected Repair Cost: 8,000Expected Monthly expenses: 1,540This is also assuming 20k downpayment for 30 year fix rateSomething that i noticed was that the tax assessment was 190k.

How did you deal with assessing your obligation to make any disclosures to the homeowner once you bought the sheriff deed?

@Mehmet Eksik I'd have to agree with your assessment based on my experience.

Anyway, as I do my analysis I notice that property taxes eat up a large part of the cashflow in my area.For example, one duplex I analyzed was assessed at $120,000 and the annual total net tax is $2,800.

I will definitely need to check how much the HOA has in reserves and what kind of special assessments they've had in the past couple years.

Does anyone have a specific system or checklist they utilize to ”relatively” quickly assess or research a property?

If a tenant is late on rent:The first thing you need to do either after business hours on the 1st or early on the 2nd is to politely notify them in writing that they are late on rent and that they have or will be assessed a late fee if rent is not paid before the grace period (if there is one). 

I reached out to the district and got the opportunity for us to walk through the building, assess things, and potentially make a proposal for purchase. 

But of course with the higher demand assets/markets, you get not only higher asset price growth (appreciation) but you also get outsized rent growth.The ability to properly understand, assess, and measure risk is the greatest challenge for investors, as most simply get the risk analysis 100% backwards and initially think that the higher cash flow provides safety, when in fact its a huge blinking red warning sign, just like it is any type of investment vehicle whether that be real estate, dividends, bonds etc.

Hello, When assessing a potential new purchase, how may one request verification of rental income?