I'm thinking half of the tax assessment price for the land as an initial offer.

(Assess your knowledge)- What excites me about real estate?

Consider the possibility that roth funds are a better form of investment or a business that you roll your solo 401k into.You will have to file estimated payments although you should be fine this year since you did not have a prior year to assess a penalty based upon increases.

I would call around to see if I can get a plumber to assess and fix the situation sooner than 7-10 days..it may cost a little more with the holidays but it may be worth the $$ rather than a headache from the tenant .

The association threatened me in the email that if they get fined, it will goes to my assessment.

Jake Kucheck I sit on a couple different Board of Directors (BoD) and in Illinois, we put liens on condo units for non payment of assessments.

While reading J Scott's assessment, which I agree, I thought it might be interesting to know more about the study and others.

The information you provided will really help me when assessing this property.

You are going to have vacancy, maintenance, capital expenditures, special assessments and various other expenses that are going to eat into the $300/month cashflow.You absolutely can refuse to rent to someone based on the results of your background check/credit history/salary, etc.

A place to start is to look at your own level of sophistication regarding the purchase and ownership of real estate investments.Next, assess your financial abilities to raise funds for the down payment and your ability to either qualify for financing or raise funds by some other means.If you have a specific question I am sure there are lots of people here willing and able to help you get your start.