I've contacted the PVA for assessed value and tax figures and am waiting to hear back.Supposedly was NOT a rental and was owner occupied.

My question is, how would you assess the deal.

That doesn't apply or effect gifting or transfers for estate purposes for such stated purposes where allowances are made.In financing, a sham note can be one with zero interest where imputed taxes are assessed or where a note is made at a higher par/upb to make up an interest amount to avoid interest or usury issues, it's a sham note.Those who are inclined to be "creative" in their financing or transactions between closely held interests or even with other parties where the purpose is to avoid taxation or profiting need to study the issues of sham transactions

Many Owners and Board members find this written summary useful in assessing the status of the community, during the reporting period, as opposed to only being presented with raw data like other Property Management companies have been known to present in their management reports.

The house was sold to her for 116, has an assessment of 169, and rents for 850 (780 sq ft, SFH 2bed 1full 1half bath near large employer and college).

If their documentation is substantially different from their tax return I would be pretty careful with my approach to the deal.After assessing their reported expenses, you need to recalibrate with your own expense assumptions, near and mid term capital upgrades to arrive a CAP rate that will cash flow, pay for repairs, maintenance, upgrades and save enough money to replace end-of-life infrastructure.Your plan of test driving your analysis skills on several real live properties is a good one.

It can be late but you will not be assessed penalty if they are late.

In such cases I typically make a very conservative offer, typically 55-60% of what the properties tax assessed value is.

If you want to use a new appraisal, you may have to wait six months to a year.Rental income won't be included until you have two years landlording experience.You'll need to post in the Marketplace if you're actually looking for a lender.Be sure youre assessment of the income includes a realistic allowance for expenses.

Pay attention to price increases on water and sewer rates and special assessments which can kill your future years cash flow model.You price is about 31,450 a door for 650 in rent which is decent.