Starting young, like you are, is smart.

It is very important to specify everything in your contract.

One of the problem is that we don't have the actual memorandum contract and the county record doesn't show the picture scan.

Here in JC a refi would definitely NOT trigger a reassessment, but doing it based on the bank appraisal would be smart on the part of the cities, along with reassessing at sale, also not done.  

Once you have a property under contract have it inspected to determine the current condition and life expectancy of all major components and appliances.  

I have a contract for assignment for a property in Newburgh, NY.

anything under contract?

Get SMART and figure out what kind of real estate investing gets you excited and can get you on the path to Financial Independence.Work on your network.

Purchase price: $170,000 Cash invested: $70,000 Sale price: $325,000 Purchased this property under a contract for deed with $48,000 down and paid off on or before a year later so that we didn't have to pay a hard money lender What made you interested in investing in this type of deal?

If it is a contract for deed be careful on the state as you are physically buying the property and have transfer taxes etc.Once it is boarded, there is a boarding fee of around $40 then you pay anywhere from $15-$35/month for performing notes (Depends on escrow and if it is a fixed or adjustable note).