Property is assessed by the city at $56,300 (maybe the sale will trigger the property to be reassessed at closer to the sale price- common in my area). 

@Amit M.To be clear, you mean that your property value was re-assessed for $60K more with the additional unit and the annual property tax went up by 1% of that, right?

You will need to find someone, preferably a contractor, to actually look at the house and give you an assessment of its condition, so you can make an offer.

When assessing different markets, what do you look at with regards to unemployment rates with a city that's in two states?

I would advise seeking a great real estate agent to help you assess the after repair value prior to your refinancing.

Obviously it will cycle up after it cycles down, but prepare for the down cycle when purchasing and assessing cash flow etc.. 

Hello everyone, I was curious how you guys go about assessing the ARV of your properties?

Also please check on the past due HOA assessments.

  : )  Definitely check your STR regulations first, then you can start assessing the numbers and figure out if an STR is right for your family.

It's a good idea to know what the millage rate is for the property and adjust the taxes based on your offer since you have little control over tax assessment without lots of costly legal help.