If you don’t account for this upfront and a washing machine goes up, then the roof needs redone in 4 years, or the garage door needs replaced- that will eat into any cash flow you have built up for x amount of months.

I have a loan officer and a accountant and also a friend who owns property but he buys everything cash.

Originally posted by Account Closed:In my case, I always make rookie mistakes when starting something new.

I won't be investing in the riskiest/most supportable asset subclasses such as hotels, and tilt my portfolio the ones that have historically been more stable such as multifamily and single-family housing.

I just upgraded my account to be a "Pro"! 

Does anyone have a recommendation for a good way to start the process of opening one of Hess accounts?

I do not own any investment properties at the moment so going through the offer process was a learning experience and I know now of a couple more things to take into account.

I have consulted my accountants and they have stated that a good deal to me may not be a good deal for everyone else.

What method would you use to find historical rates or predict the future property tax?

If not, then I doubt the seller will be willing to give too much based on the fact he/she knew it was old and probably took that into account with their list price and ultimate contract price.