Term sheets are being pulled and new appraisals ordered in the hospitality space.

The reports are 40-90 pages long and go through the entire house in great detail.Get an appraisal.

Maybe you have an appraisal contingency.

On the tax assessor website, it says....Land value: 20,000Improvement Value: 72,000Total: 92,000Good neighborhoodRent is about $840Built in 1995Owner even willing to do owner financing for 20% DP(Which I have)My question is, how accurate are the tax assessor “Appraised Values” on the county Assessor websites?

In many cases the bank will even eat the appraisal costs. 

They paid for the appraisal and everything.

Increased value, recently appraised at 80K Lessons learned?

I'll leave you with this - crap rehabs don't sell for the amount the crap rehabber thinks they are going to get - that's advice from an appraiser of 14 years.Step one is go out and get pre-approved for a personal loan.

On the tax assessor website, it says....Land value: 20,000Improvement Value: 72,000Total: 92,000Good neighborhoodRent is about $840Built in 1995Owner even willing to do owner financing for 20% DP(Which I have)My question is, how accurate are the tax assessor “Appraised Values” on the county Assessor websites?

Regardless of what the NOI and cap rate come back at, the purchase price is what the purchase price and they're going to use the purchase price or appraised value whichever is less.