Skilled, licensed individuals inspect these things for a reason and it doesn't seem like much protection from my end if someone can go behind their assessment to demand repairs after closing.

I may entertain a flip, but generally speaking I assess every deal as if I were buying a long-term rental.I just saw a post about the local Denver meetup, so I'm looking forward to attending a few and meeting other investors.

In my part of the country the county assessed value is always under market value.

You will be assessed depreciation recapture whether you have written off the depreciation or not.

As mentioned, you may need 10/12% to flip it out, if properties are increasing at 3%, that will be met in 3 to 4 years, if you hold it for 7, when tax benefits begin to fall off, things should be fine selling at a profit.When assessing any deal, don't start the valuation at the property, begin in the area, economic conditions, functionality, demand and utility of the subject property in light of the area.

And now the county website says assessment is $100k and market value is $120k.

Monthly condo fee is $300 which basically pays for water/sewer/trash, landscape, common electric (washer dryer exterior lighting) and the major expense is insurance.One of the units had a diseased owner - death occurred overseas actually, and it has been two years, was in probate, then a short sale, with two lenders, basically it's been "PENDING" for a long time.Meanwhile, no one has been paying the condo fee for this unit for over two years.Since there are only 4 units to this building, missing 25% is a lot and so we had a few special assessments to make up the difference.I was told the back money owed can't be collected in full, the most they will get from the bank is about $1000 at closing.

If I am understanding the ARV, it was assessed for 67,000 so I guess I am not sure if that would be also the ARV or close to it?

That work will cost me $1000Taxes are $1222/annuallyOnce my repairs are finished the property would like be assessed at 65k or so.

If you wait 6-12 months (depending on lender) you can finance based on the after repair assessed value.