Look for licenses, insurance certificates etc. 

My day job is partner in an insurance and tax accounting firm. 

  $19,000 left.Carry costs (loan, taxes, insurance)

These questionable assignments have been used by bad actors like Ocwen to wrongfully foreclose on naive homeowners. 

Property Tax is $337.5/m Insurance is $108.33/m total comes to $2294.26.

I determined the value to be $1,506,533:Value = NOI/Cap RateValue = $135,588/0.09Value = 1,506,533I put down 20% ($301,306)I pay 1 point ($15,065)I pay for title insurance and a lawyer ($7,101)Total: $323,472"After your research, you decide to project a 3% annual increase for both the income and expenses."

I tried to get into 2 places in the nicer parts of Neptune, went so far as to write the offer, only to find out that the listing agent didn't list the property correctly and it was a HUD home owner occupied purchase only.  

Mortgage payment is $930... taxes and insurance are escrowed, plus $120 of that is PMI.

Go get another one is my advice.If the homeowner wants to keep it, they need to bring it up to date, fix what's wrong and then rent it with the hopes that the tenant will help her recoup the money she put into it. 

I had insurance on the property, so im covered in that aspect, because they are rebuilding my unit as part of a mass rebuild project jointly with the HOA insurance.