Agree it is difficult to assess costs when they vary so much by location.Keep in mind that some turnovers are sickenly expensive, and that is just the nature of the business. 

I’ve spent time assessing areas locally and identified Richmond, Pearland, Conroe, Montgomery and Katy as prospective areas to invest in.

Typically, the adjustments I see on appraisals for basements are more flat rate adjustments. 10k is usually the number I've seen.What stinks is that there are a couple of model types that have below grade space where the builder, I'm sure, was trying to lower the taxes by having it below grade so the county wouldn't count that space in the assessment.

If purchasing new real estate as part of your reinvestment, a cost segregation study can maximize depreciation deductions, offsetting future taxable income.For effective planning, assess how the sale price is allocated between real estate, tangible assets, and goodwill, as this determines the tax treatment.

This will help you assess the value and avoid surprises down the road.12.

., with the rapid rise of STRs, you will find that many insurers offer STR policies.We use Proper but it is very expensive but very comprehensive.

Ask the people in Florida who now have sky high insurance and mandatory unplanned assessments, how much value having a paid off property is. 

The land assessment value is on the tax assessor's site in every county, but that doesn't hold a ton of relevance in my opinion.

A reserve is unnecessary, but I still keep around $15,000 - $20,000 in my account.The point is, that you should sit down and assess your finances to determine what the worst-case scenario may look like, how much you would need to cover it without impacting your life, and whether you will need to build a reserve.

You can also assess a dollar amount that you value the cost of these requests to be, and ask for these as a discount from the purchase price or a concession to you for closing costs.