Your assessment is basically correct.

, via CLUE (Comprehensive Loss Underwriting Exchange)) after X claims are made, X being any number greater than zero.

Sounds like a special assessment.

They then have to go back for a final value assessment with work done, but that is not at the cost of a new appraisal.

Bottom to top was the copies of contracts to purchase, appraisal, insurance binder, inspection reports, telephone and misc. notes, copies of receipts for acquisition, HUD-1.Right side bottom to top, tax assessments, insurance policies, tax and insurance receipts, repair maintenance receipts (if extensive, a seperate folder, with an identifying page listing associated folders, like utilities) Utility agreement (landlord agreements) and on top the current lease.On the outside of the folder the property address, legal description, tax ID number, Insurance company and phone number of agent.Anyway, different categories were filed in alpha order first, then in numeric order.

I believe I now found a good contractor, so having a contractor assess repairs may work better in the future.

To assess the value, look at the property value without improvements and arrive at the difference for the land, that should reflect the difference in the price.

You've left out maintenantce (mostly caused by tenants), property management (which you could earn by doing it yourself), special assessments, legal expenses, make ready expenses (cleaning and fixup between tenants), special assessments from your HOA, CPA expenses, etc.

I'd be very wary just based on the information you've provided...First, don't trust tax assessments to determine your ARV.

Third, (it used to be, so maybe still is) a lot of condo owners did not pay the assessments, so major repairs and maintenance had to be deferred.