If other condos in the area charge the same and provide more maintenance and insurance, they are probably operating at a deficit, not funding their reserves, and a special assessment will be needed when the roofs need to be done or for other maintenance.

I don't think his visit was a comprehensive site inspection (the lender separately ordered other companies to do a phase I, a property condition assessment, and an appraisal)--more likely it was part of their standard due diligence process for the lender's representative to lay eyes on the property before they lend on it.

If you wanted to assess with greater accuracy, you should deduct the carrying cost of the $33k over the time period it takes to build the new unit (ie, the money isn’t generating income, but costing you ~4% interest).

The SLO assessors website has little more than tax assessment and basic characteristics like beds and baths, despite lots more info being public record.

Property is in very good condition and I could purchase at tax assessed value.

So he couldn't really assess what the condition of the sewer line was or the extent of the sewer water damage down there, nor could the home inspector.Also, there are no sewer clean outs.So we've pushed this back to the sellers to fix.

If you have an existing gate, it MAY already integrate but mine were not compatible.

Appraised at 230K in 2017, have copy of appraisal)Personal Residence:                                      $147,000                    $230,000 (95,000 15 year mortgage 3.25%, matures April 2027 / 60,000 HELOC, Bangor Savings, 4.375% / 3 year funding / 10 year payoff, matures 2031)Following buildings are owned “free and clear” with assessed or estimated value after169 Silver St. $325,00017 Boutelle Ave $395,00060 Pleasant St. $200,00028 Pleasant St

I'd like to work with someone who has experience with out-of-area investors and helping them understand the rental market, improve my ability to assess area properties remotely, and provide advice on things like taxes, whether properties are in floodplains, etc.

The MLS sales data shows that as well.Account Closed I totally agree with your assessment, there is a lot of fear mongering regarding the recession.