A few things:Do you mean "accessed value" or "assessed value"?

I have worked with dozens of property management companies and the turnover for PM's is about once every two years.  

A little background.Just refi'd my primary home, assessment came back at 156K.

I've wholesaled a couple dozen deals over the years...you know how many buyers I have on my buyer's list? 

Also the listing agents for rentals may be another source(especially if they were the buyer's agent on the purchase).If an agent has helped successful investors buy dozens of homes, it should matter that this is your investment purchase. 

Maybe it's typical that assessed value is so much lower than the sale price but it seems drastic.I think if you have $81,000 to invest, you can find a better deal if you keep looking. 

The outstanding mortgage debt is ~$60,000, and the fiduciary is assessed the property at $137,000 based on the county auditor's tax value.  

Last thing you want is an encumbered property.If you can get the property financials from your friend, assuming he tracks them, that would go far in assessing the property's financial performance.How long do you plan on holding the property for and what's your goal? 

You can also find the actual property tax typing the address in on hcad.org  The 2014 property tax was $11,577.97 and that's assessing the property at $450khttp://www.hctax.net/Property/TaxStatement?

Sort by assessed value, out of state address etc.About 10% return rates on my first mailing from that list.