An estoppel letter is typically used in a transfer or conveyance of real property before the Closing transaction.It is a document sent to a bank (or other lender), from a homeowners' association (or condo association), to a city/municipality, or a tenant requesting a payoff of a mortgage, assessments or taxes due, or rental amounts due on a lease, to incorporate these amounts into the Settlement Statement for the buyer and seller of the real estate.

I don't know the current property condition, so you are in a better position to assess that.

Definitely, keep reading BP for knowledge and work on qualifying.Do keep us posted on your progress, this is the place to find investing mentors that can answer your questions along the way and even point you to certain people in your area.Anita

It might be fun if you started a thread for each of the properties so we can follow your progress.

Underfunded reserves, special assessments, design review boards and landscape "police" have all left a bad taste in my mouth with various homes and condos I have owned.In 2011, I was working on a town home in a coastal community of San Diego county and butting heads with the HOA president.

Tax assessment is 94000 due to lot size and home values from a decade earlier.

Risk assessment, at least an accurate assessment is mostly impossible for an individual and I'd doubt it's that accurate at a mid size institutional type either.While I understand some of your unique industry, inner-office phraseology such as "capital waterfall" it's not that well understood nor applicable to individual note investors here, while I understand it seems to embellish some sense of expertise in a post, it's poor communication to our audience and simply takes us to conceptual aspects rather than realistic and relevant analysis.

Quick Question-A friend of mine just sold a house that was tax assessed at a value of $190,000.

The tax assessment is over $200k, but neighborhood comps range from 150-220k.

We don't have a whole lot of commercial mostly SFR, duplexes, 4-plexes, but the ones we do have I'd say that's a fair assessment if they are going to take that risk on a commercial property that is say 60% vacant they would want at least a 15% return on their money.