However, the properties are homestead which means the taxable value equals assessed value less 50k, right?

I believe market rent will be between $800-850 (I am going to have my property manager give me her opinion)Taxes are currently $540/yr but it has a special assessment and military/homestead credits so I think it will be closer to $1200/yr once the purchase price hits the assessors office.Repair 10%/Vacancy 5%/Prop Management 8%Insurance $50/mo.I want to see $200/mo cashflow and 12% cash on cash.Portfolio lender will loan upto 85% BPO no specific downpayment requirement aslong as it has a 1.25 DSCR and 85%.  25yr not 30.Do I put more down to make $200 cashflow but reduce my Cash on Cash or do I leverage higher get $155 cashflow and put less down so my ROI goes higher?  

I've watched alot of the podcasts and read through dozens of forum posts before setting up an account. 

Be sure to check out the weekly podcasts here and take advantage of the investment calculator tools to help you assess deals for yourself or your clients.

(H/E) 0$8,020.00Total$10,585.00 Tax Amounts Parish Tax$1,052.26City Tax$0.00Total$1,052.26 Homestead Homestead Assessed Value7,500Homestead Deduction($745.58) Fines Tall Grass Amount Due$0.00Tax Commission Fee$0.00Total$0.00 Taxpayer Amount Due$306.68

@Cynthia Dixon - Assessed value based on what?  

The "Condition of Property Assessment" part in your lease is where you list the fees to charge during / after the lease period for damage that occurs or deducted from the security deposit after the tenant is out.

The tax assessor's assessed value could be close, or it could be way off. 

If you want the deals others MAY not be paying attention to, you need to search using methods that others aren't using.As far as using your agent, I would be careful about sending them on wild goose chases and offering on dozens of properties, of which most will not pan out.

I have them break it down by neighborhood and for what i'm looking for all homes that are under 400k tax assessed and owned the home at least 7 years.