My understanding is taxes are assessed based upon the purchase price for the first couple years.

The assessed value has no correlation to what the property is worth.

Your assessment sounds very fair.

Totally agree with your "isn't horrible" assessment. :-) The point of this property is to learn the business, while not losing money.

what are the taxes (and based on what assessment)?

Realistic assessments of the need for "on-going" levels of both Management and " Bricks and Mortar" support over the term of the "Hold",.Your Comfort Levels for" Exposure"as well as " Direct Invovement " all have to be factored in.

The sagging roof which, if the inspector's assessment is correct, could be fixed with a couple of 2x4 supports is so minor as to be a non-issue.

Sooner or later someone will move out and you will need to repaint, someday you will need the furnace worked on, or a new roof, or you get a special tax assessment for something.

I have a contract for my third property, this is lower end than I am use to. It's in zip code 46224. Indianapolis. Not the greatest area, but not a war zone, seemed like a quiet neighborhood with multiple types of ...

If your house is assessed anywhere near purchase price, $1500 is a steal in Texas.