Are there any other taxing authorities who may be assessing taxes on the property (some counties have city taxes and water assessments and school taxes and other local taxes - if you dont know to ask the operator won't tell you)7.

Not enough information to assess.

One large assessment and your profit is gone.  

I would say though that if you are definitely moving to Florida that looking in that area and assessing the situation as far as whether the market could continue to go up or possibly cool down would be the number one priority.  

For me, I assess tenant on basis-basis, I have inherited TAW, where I don't disturb them period if they are good people.

When looking at apartments you really have to do your research on the reserve funds, past special assessments, and whether or not there are limits on the % of rentals allowed in the building.

That is where you already have the most knowledge, contacts, and experience ... that is where you will be able to learn the most hands on to grow all of these things ... that is where you will be able to maintain maximum control over your investments ... that is where you will be most able to assess and manage your risks.

I'm very interested in hearing from lenders on how they assess the actual investment that they may be lending to.

While this is at least something, I just want to make sure that I'm maximizing my current cash reserves before exhausting it on a single option which provides a low amount of cash flow.So I'm just trying to work through all of this and determine what the best course of action is with respect to making progress at a reasonable pace in my market.

If the contractor countersues, wins big, and all the homeowners end up with huge assessments, you may end up in a position of not being able to repay the loan and they don't want unhealthy collateral they will have trouble selling.