The location and economic state of the units should be in your valuation assessment.

Unit #2 was over $1400 behind on rent and have never been assessed a late fee.

Here is the link to the answer for the assessment, and indirectly negotiating pointers for anyone else interested in the answer.http://www.biggerpockets.com/forums/93/topics/59104-rehab-estimating-as-a-new-wholesalerI'm still looking for a good source for the hard copies of contracts.

These usually don't have an appraisal so your collateral assessment is critical.

I was with Farm Bureau at $1062 and switched to Progressive ($714).

-The IRS typically has 3 years to audit your return, but there are exceptions. 26 USC 6501 Limitations on assessment and collection:26 USC 6501(a) generally grants the IRS 3 years to assess a tax (e.g., audit a return and assess an additional tax)6501(c) lists exceptions:6501(c)(1) False return - no time limit for false or fraudulent return with intent to evade tax.6501(c)(3) no return - if no return was ever filed, there is no time limit.6501(e) If the taxpayer makes substantial omission of items in the return, the time limit is 6 years.26 USC 6502 Collection after assessment - the IRS has 10 years, from the time tax was assessed, to start collection efforts.

I recently visited a flip in progress in Corona that my friend, Jose Antonio Sancez, Prudential Realty, is managing.

Hello fellow investors,I was just informed about some upcoming FHA regulation changes to the way PMI insurance is handled and assessed.

Prudent lending practices, not just secondary market guidelines, require lease-options with rent credits allowed to be viewed in light of fair market rents being assessed and only amounts paid in excess of fair market rents be credited for financing purposes.While you can agree to rents of $500 per month and credit say $200 toward the purchase, lenders won't accept the credit unless the fair market rents is assessed at $300 a month or less.So, what you have with agreements drafted in such a manner are two parties who agree to a credit thinking that $200 is being credited, say for 24 months allowing $4,800 toward the purchase price of say a $50,000 house.

The property owners should have a filed roadway agreement addressing maintenance and how expenses are assessed, without it financing will be difficult.