When was the building last assessed ?

In all three companies it was very important to assess an accurate value of the homes for two reasons:We did not want to "over lend" on homes because that would have affected the profitability of the lending operation;We routinely had to borrow money to make loans with and we had to have an appraisal method that worked in order to satisfy part of the concerns that investors have when the only real collateral being offered are the homes and the lending contracts.Years ago, I signed up for and took the two day course offered in using the NADA system.

City tax assessment is $140k and I know it should appraise for around that or more.I'm hoping to cash out as much as possible but I know there may be some limitations on it since it is a rental.One thing that crossed my mind is-  Since my existing mortgage is an FHA, does this affect anything now that it is a rental, or is there anything special because it is an FHA?

Phil is spot on with his assessment.

Obviously can get more detailed to accurately assess ARV/repairs... and include things like school districts, crime, levels of rehab needed (high end/low end), etc...I want to be an expert in this area, show me the way!!

I have been haveing a great deal of trouble with a hud home ive recently one the bid on.im in the final stages of the deal.at the moment pretty much everything revolves around an inspection as the house assessed for much more then i bidded.a long story short tonthe eye the house needs tlc and general upkeep as its been vacant for 2 years.the issue im haveing is that the circut breaker has been completley removed.panels,box,breakers,the whole nine yards.hud WILL NOT allow any room for this.not even a temporary install.with. o electricity theres no way to get a 100% inspection as thats part of one..im at a very aggravateing stand still.any advice would be greatly apprciated!!

I am the president of our HOA and if there is a change in budget it would be added to the fees or you do the work then assess.  

@Dominique Grayson  It sounds like you have a good assessment of your risk tolerance as of today.  

-----------The Boston Condo had a HUGE 30 yrs assessment in 2007-8, our condo prices plummeted.

Also I am an environmental professional and have done over 30 environmental site assessments and Phase 1 report's for banks and property owners.