@Mike McCarthy and @Chris Mason Thank you so much both for your responses.Fast forward to the future, should I fix this discrepancy after closing the deal to reduce my Taxes or it is going to impact me negatively when I decide to renew rentals or sell this property?

I have a subscription to costar as an essential tool for my success.

Check to see how it impacts your cash on cash return which will give you a much better idea of which option appeals to you more.Best,Paul

I’m essentially doing what David Greene says to do in his book. 

Essential if they are a good tenant they can stay indefinitely and I can increase rent by 3.5% a year max.

Remember, you can't go over that monthly pmt, so that will impact your max. offer.

If they see a wave of listings in a particular area and learn that there is going to be some major drainage work done two years from now that will significantly impact taxes, unless your going to meetings at city hall or live in the neighborhood, those are likely things you may miss.When you do begin to narrow down properties you like, they may be able to provide you with data that will reaffirm your own in regards to comps in the area, ARV, and the direction of price trends. 

That is essentially it.You also have to watch them like a hawk, here are some of the things I do:1.

I gave them the 7 day notice yesterday, so I have essentially started the process.

This will impact a few things.As far as the analysis:$1k for initial repairs is not likely.