Thomas, I totally agree in regards to where you live.Keep in mind, my advise and assessment may be area specific.

But I was wondering what less not-so-always obvious and subltle things might trigger the need for a permit that might be easily overlooked when assessing a home rehab?

Does that account for major event like significant tenant damage, a special assessement by the HOA or a lengthy eviction?

If you want a formal assessment of the value of the property, then you are talking about an appraisal done by a licensed real estate appraiser.Since appraisals are expensive and BPOs are free or fairly cheap, I would contact at least 3 agents in the area you are looking at and get an opinion from each and see where they meet.

Not a lawyer and could be wrong, but I think you may want to research a bit as I believe in Florida HOAs are allowed to demand tenant pay rent directly to them until assessments are up-to-date (not sure how that would work being it's a payment in advance to begin with so technically not late, I would think), or they can actually demand eviction.

The condo owners are more interested in keeping assessments low to the detriment of how the community looks.

And, do you know what the assessment on this property is?

They shouldn't be used to assess damages.

Also, You'd hate to get in when they're about to ask for a huge special assessment.

Here are the details:Asking price=62,000ARV=~85,000Tax assessment value=88,000Taxes=2,056 (last year)Repairs=10,000The negotiations have come to a halt at 50,000.