Also they can have assessments that you are required to pay for, they repave the parking lot, you pay for it, even if you didnt want it.Condos are harder to rent, harder to keep full, and generally rent for less, its basically renting an apartment. people tend to rent houses for longer periods of time then condos.That being said I KNOW there are some condos deals in vegas, and I think for your situation I'd be very active in looking for a deal right now, you could move into for a few years, and hopefully sell with the market somewhat recovers and make some money.

Assessments are a best guess in my opinion, and until you have a buyer, you can't be certain what the asset is worth...

Based on my math, your payments are about $250 to $300 and I'm guessing taxes and insurance might be another $300 or $400 (assuming the assessments are still pegged to boom prices as most counties here are still at).

You're estimating the value on tax assessments and online comps which is a no no when it comes to wholesaling.You need to base the ARV from the recent sold comps from the target area.

Here are the numbers:SFH; All brick in a nice neighborhood3BR/1.5 BA 1,210 sq ftBuilt: 1972She paid: $29K for it in Aug 08Tax Assessment: $75,992Comps: (Trulia): $36K hi/$32K low (Real Estate ABC) $60K/$34KRents for: $750/month.

This was harder to do when I was building an estate; now that I am more in the mode of protecting an estate I can afford to pass on partners and deals that present those kind of risks.Not the ideal environment to support business startups that create jobs, but just a realistic assessment of where we stand today.

The best way to assess a market is to actually sell something and see how it sells.

Special assessments have been issued in many complexes where HOA dues have dropped and they need to repair something etc.

I do need to get some suggestion regarding my situation.Couple of month ago, one of my properties is damaged by the evicted tenant and my property manager was working hard on evicting the tenant, contacting the power company to inspect the rehab cost and attorney to get the tenant evicted etc.After checking with the damage with insurance company, I got much less than the total repair cost that property manager proposed when he assessed the property so I started to shop around the repair vendors that offers the cheapest cost.

The remaining 50% should be enough to cover your principle and interest payments and hopefully leave a little extra for you.Don't place too much faith in the tax assessment.