I think Jay was pretty clear and accurate in his assessments.

So here are the details :lot size 70X300, 2 stories, 1 building, 6 parking spotson site laundry ,boiler system , gas stove ,dish washer & metal rooflower unit 1: 2\1 800 rent (17 yr renters no plans to leave)upper unit 2: 1\1 550 rent(14yr renters no plans to leave )upper unit 3: 1\1450 rent + 240 yr for parking = 21,840 taxes 3465, ins. 1483,owner currently pay utilities 6,643 a year =11,591and the purchase price is 129,900 with some wiggle room (city assessment says 122,880)any & all advise is appreciated. 

- Property Taxes - From listing and divided by 12You should be able to look online at your county assessor to get the accurate tax assessment.

TEN STEPS TO SUCCESS IN WHOLESALING ~1) Get a brand and create a marketing strategy and system.2) Network with cash buyers to build your buyer's list.3) Consult with an attorney regarding the proper RE contract to use and the proper means of creating an assignable RE contract in your state.4) Understand how to evaluate rehab needs and assess the value of houses.

Small or very large commercial loans will generally just be P+I, but they can require taxes, insurance and special assessments, if any, as well, usually not.

Also, @Joseph Weisenbloom 's numbers only accounted for the special assessment tax, not the regular tax, so regardless of the loan term, you are cash flow negative.

Assessed value is 55.

The home was assessed at 130 K by the city. the home owner is a motivated seller and was asking 70 K.

Is it boarded upDoes it look up to date and well maintained or very dated Wood windows, rusty gutters, overgrown landscaping etc. 4) People bid 50% or more of assessed value here on the best properties.

The property appraiser doesn't pay attention to you refinancing, and it won't trigger any new assessments.