Leaks would be the main reason if the reason for the leak cannot be found in a rental (sometimes a "popped" roofing nail is all that is the cause of the leak).For many landlords, patching a leaking area is often considered before replacement since the cost of patching can be taken off as a repair on taxes which roof replacement is typically depreciated over a number of years.Gail

There is an undisclosed bedroom as well when compared to the tax records - records show three, they currently have four, and there are a couple other rooms which could be used as bedrooms as well.  

Just make sure they specialize in tax and have significant experience dealing with real estate investors.Here is a great list of questions to ask a potential accountant: http://www.biggerpockets.com/forums/51/topics/7044...Also check out the www.NAEA.org page in your search.

Where are the tax bills sent?

We haven't had the inspection yet, nor have I verified the seller's rent roll or expenses other than property taxes.

If its been a rental, there is depreciation recapture and cap gains tax.

What I can tell you, as a startup, with few properties, the tax return alone can eat up most of, or all and then some, of your profits.  

What's the typical property tax that way?

What is the monthly payment to include taxes and insurance?

My taxes and insurance are much higher.