Being from here helped to give me a sense of what neighborhoods I wanted to invest in but I still had to spend time learning how to accurately value property.  

Would that be accurate?

@dan @Dan Cho Dan you need to be able to get accurate sold comps in the area.  

Bruce,Excellent post and very accurate.

Austin area tax appraisal values are nowhere near accurate, so you will need comps from a realtor to find the values nearby rather than the public information.

This is meant to be contrasted with certain loans in years past that could be assumed merely by paying an assumption fee and notifying the lender of the new owner.But is the term "nonassumable" accurate?

Ma and Pa landlord are not required to follow GAAP, they can have any system they like so long as that system is consistent and can be audited to show an accurate accounting for tax purposes, that is by IRS Code.

Of course they can, the question is will they, and will they make accurate representation of the lease amounts and terms.

Account Closed - You should be careful as to what you say because what you're saying is not accurate.

The property management agreement is a limited power of attorney and does give management companies the rights to negotiate rental amounts.Also, I recommend you go after them for embezzlement if they do not provide you an accurate accounting of the funds.