You also have to worry about special assessments, an unexpected expense to the complex that everyone must pay for (i.e. elevator breaks, roof top pool leaks, building needs painting, lawsuit, etc.).The associations can also change the bylaws and rules limiting the amount of units that can be rentals (this happened to me in a residential subdivision with an HOA) or require owners to live in properties for at least a year before renting them out, even if the tenant already lives there and an investor buys it.They also have the power to nitpick you about little maintenance items.

And when in your real estate career would you fly down to a disaster to assess property?

I recently purchased a Fannie Mae REO property and received a county survey form.I assume information on the form may be used for assessing the property's value?

So here is was I am doingCash buy on a tax foreclosure through the county for 43K, the house has a tax assessment of 118K and a fair market value of 90K.

I ran my numbers again and my losses were a bit exaggerated with my first assessment.

I understand recent sales are better to determine market value, but can tax assessment values give you an idea?

Most cities make all of their tax assessments public knowledge, even if you don't own the property.

Under these facts the Association had to intervene in the bank foreclosure within 30 days of the recording of the Supplememtal Lis Pendens, and failing to do so barred the Association from liening the unit and foreclosing its lien.The affect on pending mortgage foreclosures is to prevent the Association from initiating a separate law suit for delinquent assessments when it doesn't have a recorded lien at the time the bank's Lis Pendens is filed.

Also check out the start here page for some great quick links including the Ultimate Beginners Guide As for your question - I highly recommend the following- network like crazy, never know who knows what and where they invest - learn locally but ALSO connect with Florida investors to begin learning - develop a solid business plan and know the sections that will require tailoring depending on your investing region- assess the investment type and implications if you move (flips, wholesales, LTO, and rentals will all have different implications for investment duration - learn as much as you can (BP blog, forums, podcast are a great start) and don't be afraid to jump in once you have done your homework-Keith 

this is what I have found so far, the property has an assessed value of 190000.