I started out looking at Vegas condos in May & June of this before deciding on a SFR .... paid a little more but figure appreciation and rental income will be higher and more importantly, I won't have to deal with increasing HOA fees and the potential for special assessments.

Then there is generally a HOA Management company that recieves the money and contracts out the work and such.The complex can add items they feel are needed, and charge an additional assessment charge, for improvements to the grounds, which you really have no choice but to pay, sometimes they can be outrageous, for items of really no use, trees ect., a big and common approves condo association financial assessment charge is for repavement of the parking lot.

I am also looking for a seasoned investor in the area who may be willing to mentor me through a couple of transactions in return for gruntwork/property look ats/reduced assessments.

This helps me assess potential crime risk.Also, at one place I was sure I wanted, I paid the entire lease (12 mos) up front in order to get a 10% discount, after haggling them down from the initial asking price of course!

I'm normally a buy and hold kinda guy, so eventually, a condo will eat me up with special assessment unplanned for.

In their "Consolidated Statements of Operations and Comprehensive Income" (around page 9), they list their rental income and total revenues as almost the same: about $1.8 billion.They list expenses as:Property and maintenance: $309 millionReal estate taxes and insurance: $239 millionProperty management: $64 millionGeneral and administrative: $47 millionDepreciation: $528 million (!)

Your agent should also be able to provide assessment and sale histories.Check with Assessor and City Inspection people.

I will have to disagree with this assessment of this years toruney.

I'm not even sure who to call to find out about doing this.Also, as the new owner, could I be liable for back property taxes based on the fact that that additional room was never assessed?

and what is an assessed value?