The property was last assessed around 250k by the local tax assessor.

Buyer also would pay me $563 in property tax, insurance plus a small stormwater assessment fee for a total of $1400Based on my 15yr loan amortization schedule I will pay the bank $8,608 in interest over the next 3 years.

You can do drop and swaps which is a tax loophole which attempts to hide the sale from the school boards that try to file claims against the assessed value of your home, you can get a tax abatement in certain areas that will enable you to not have an increase in taxes for a certain amount of time, or you can purchase properties that already have the tax abatement on them.

Do you conduct property assessments?

Hi @Duane Tomlinson,Nearly every condo in the area is going to have high HOA and assessment fees, so that eliminates them for nearly everything other than prospective appreciation investing.

The banks writing these loans rely on the Appraisers to assess the condition and stipulate what needed to be repaired to qualify.

It's the lowest price in the building and it's tax assessed at 170k, which isn't great for my property taxes but I feel like it bodes well otherwise.

You can't possibly know other areas you don't normally work, or understand rental law if you've never done it, or if a property has a front foot assessment you didn't know about, etc.  

In my experience, it's standard for the County to assess at the higher 6% rate for any units that you're not living in. 

There were two assessments done on the building while I owned it which were unexpected expenses along the way.