Keep us posted on the progress!

Thanks for sharing your progress.

There are apartments that could be workable at the right price esp. if you can do a rehab but they can be tough to rent out because of the board, you can get assessments that really hurt and you are generally banking on appreciation.  

As I get more and more profitable rentals, and cars were purchased they would change to hopefully progressively more and more expensive vehicles.

Given the fact I am a contractor, it's much easier to assess rehab budgets on the fly but still there will be unknowns.  

If the sale price is lower than the assessed tax value, apply to get them reduced with the sales data.

If so, just ask him to leave you a forwarding address and then a week or two after he moves out write him a letter (based on facts) that states why he is not getting his security deposit back.If he asks before he moves out if he's getting it back, just say that per state law we have 30 days to give it back to you and we need to do our walk through of the apartment to assess for damages once everything is moved out of the apartment and cleaned.

I looked up the tax assessment and he is selling himself.

Are capitalization rates subjective assessments or pure math (NOI/sale price)?

Hi Kevin,The threat of special assessments turn some people off, and you also really want to watch the HOA fees.