But, depending on the age of the building he could also be hit with an Hoa assessment for a new roof, painting the outside or parking lot maintenance.

Account ClosedBig reward = high ratio of (tax + penalties + interest assessed) divided by (IRS payroll and other costs).There is not an exact number.It sounds like you need to find a new CPA.

The town’s property card assesses the property at $130,100 and lists the sale price at $132,525, five years ago.

Whats luring me in this deal is the assessed value, it is a lot higher than the listed price.. is this information irrelevant? 

We used to use the simple 2 pages purchase / assignment contracts; However, when we talked to one of the RE Attorney in town, they said the purchase contract is not comprehensive enough and recommended us to use the TREC contract, which is WAY too complicated for us and probably confused and scared the seller also.

Also when you use a bank for rehab they want to look at work that has been done and make assessments on paying your contractors which can be verry time consuming.

Its a very solid house and will cash flow probably $300-500.. my one concern is that i paid above its current assessed value.

As I am looking into this to decide if I need to also snag myself a license in those other state's I am thinking that the marketing of the actual individual property addresses themselves is something that will require a license........Hoping I am wrong in that assessment as it's another layer of red tape..........Any thoughts you can shed for me?

They are harder to assess.

Some people just use a straight 20% or take land value from county tax assessment.