The first thing I would do is assess the land versus building value and find out which is more valuable.Also look into restrictions for this area; some historic districts require period-era updates, which means you have to keep the original look/style etc.

What if the condo association hit her with a major assessment, or she needed an expensive medical procedure not fully covered by insurance?

The property is assessed at around $200,000.The bank is telling me that they can only cash me out for 75% of the purchase price, not the actual assessed price.

Initial assessment on that: it doesn’t seem to be the current tenants but the overgrown landscaping and poor lighting that welcomes the trouble element.

So in your example, how did you get the timeshares assessed so high when the market value apparently was $10 a piece?

Total assessment for 2012 is 267k.

If one wants to move out then you would assess at that time if the remaining two can qualify as to whether you will accept that change.

I think it's more important to assess your goals and come up with investment guidelines that fit into those goals.

After assessing many of the property management companies in the area I wouldn't be surprised if its turn over due to people not being able to manage the property effeciently.

This is something that seems to me to be very popular here in Iowa due to commercial property being taxed at the full assessed amount.