I ask because I found a house that's selling for 100k less than tax assessed value (MLS, normal house, great condition) and am wondering if I'm most likely walking into a sweet equity deal, or if there's some more nuance y'all have fun into.

Renters left house in awful condition with **** on the floor and sex toys lying around.

A breakeven property this year is earning 5% more next year, then 5% more the year after that, etc...However, before you buy your breakeven property, make sure the following conditions are met:- You must underwrite the property properly, accounting for maintenance and capex and vacancy.

Take printed pictures to document the condition of the property before and after.

The mold is a healthcare issue and you need to prove that you have been concerned about your tenants' health, especially during the current pandemic.

It's been a while since I posted anything about the general market conditions in Ogden. 

They will charge 8 to 10% based on property condition and the local market.After you remove all the extra expenses from your balance sheet, this deal might be tenable. 

When prices drop so that you are underwater on your loans and then you can't make your payments (presumably because tenants don't pay or because you can't keep/or get the property to a rentable condition) or if your lender makes an equity call and you can't come up with any money so the lender calls the loan and you can't pay or sell without a loss (rare).

You have to decide if your willing to pay for empty lots (what's the condition of electrical, water, sewer, cement pad etc at these empties) and the Value of the park owned homes.

I manage the property from out of state but does not require much considering the condition of the home.