This is my first time working for the industry.He refinanced two properties, in one he received cash back in the other one he had to put money in.A normal buying GL entry will be: Debit Credit increase Fixed Asset Land GL NENE unit 110 14,000.00 increase Fixed Asset Buildings GL NENE unit 110 139,378.30 increase Long Term Liability Mortgage/ Loan payable GL NENE unit 110 100,000.00 increase Operating Expenses Association Fees GL HOA fees/assessments (NENE unit 110 49,900.00 decrease Current Asset Bank account GL Bank account (cash to close) (NENE unit 110) 3,478.30 153,378.30 153,378.30 But I do not have any idea what GL to use when a property is refinanced.I have to add that for these two properties there are several invoices open in our system for the monthly loan payments missed before the refinancing of each property...what I do with those?

Thank you in advance for your time and assessment. 

Beyond looking at the condo association’s fees, cash reserves and assessment history, what else do I need to dig into before pulling the trigger?

Then ask, is there anything that you can expect from your geographic area to expect in future expenses - like wet basements, recent building code upgrades, or upcoming community infrastructure repairs that will be paid for through property tax assessments?

Over time, you can grow to learn more and more in the industry.Once you’ve decided what aspects of the industry will help you accomplish your goals, assess what resources you need to start investing there.

I ended up hiring a plumber.I think your initial assessment was correct.

It's assessed for just $55k, meaning property taxes are very low of course. 

Whether being clearer and more precise in what I was asking for in the scope of work or coordinating with my GC better when planning the final cleaning, property management assessment, and pictures, there was room to improve.

Is the tax assessment correct or are there areas that would reduce the assessment?  

Since 2014 there have been multiple weed assessment fees charged to the account and all were paid by the bank.