@Jerry Padilla nothing is holding me back I am just assessing all available options out there for real estate and I have trouble understanding how you bring a deal to the table and rally investors to join on a syndication.

Nevertheless....I agree with many of your assessments and do not want to take on the additional risks.

I have the document for the mortgage and I’ve seen both properties in person, so I can confirm that the county assessments are not out of range.What are the circumstances that would allow this type of mortgage to happen? 

I've had many claims where County Assessors won't accept a deed with a bad call to assess the property in the Grantee's name because of so many problems that have been created by incorrectly prepared legal descriptions. 

Southern California) you have access to close to a dozen real estate investor clubs.

LANDLORD/MGR_________________________ PHONE____________________ POSTING DATE___________________________ TIME______________________NOTICE OF $100.00 ASSESSMENT (Failure to allow for access to premises) Date____________________ TO: _______________________________________________ _______________________________________________ _______________________________________________ On (date) _________________ at (time) _______________, you were served a____ 1-day written notice to enter to show, or a ____2-day written notice to inspect or service your premises.

Net value uses the assessed value from purchase and sale, figuring the difference, with consideration of any miscellaneous contributions over the course of ownership.

You are subject to HOAs, which you have no control over, special assessments, etc.  

The biggest hurdle is obviously the transfer tax that I will have to pay based on the assessed value.

@Alan Reza I totally agree with your assessment of Kansas City, but Indianapolis is also ranked high in STEM careers and technology.