Volunteer boards (or even professional managers) may have other priorities or simply not be able to have the reserves matching the end of the useful life of building components (without raising dues and getting voted out).See what all the dues cover, too, and if you have some utilities in there or need to add that (or will pass it on to the renter).But, on your numbers, you do look to have $500 in maintenance $200 for other (monthly?

hi Lee,This is going to be a difficult answer for a data nerd, but you aren't going to be able to get super granular about maintenance and cap ex without defining a narrow asset class.

Assessed values depend heavily on your county's resources and methodology.Most that I'm aware of use the cost approach meaning that they figure the cost to build using square footage and materials used, then depreciate the building components based on age.The objective of the assessor is to value the property at the highest possible amount without the assessed value being challenged.  

I exited the rate race at 30 and now work 10-15 hours per week managing my RE assets...the restof the time is spent chasing my two young kids around and traveling 60-90 days per year...my advice to you is to define what you want your life to look like (you did a pretty good job of that in your post, ie beach, amazon etc.) and that can certainly change along the way but what you don't want to do is keep moving the bar.  

The biggest difference you'll find in looking at these size multifamilies/single-families, is the financing component. 

The Property Investor's Network of Toledo, PIN is holding its first meeting next week Tuesday, January 10th, 6:00 PM at Augsburg Lutheran Church, 1342 W Sylvania Ave Toledo OH 43612.I joined the group at the end of Summer while they were organizing and defining themselves and currently am an interim board member until 2017 elections are held.

Define your buying criteria and execute. 

There are three major components to qualifying for a loan: credit, income, and the down payment.

Take a written list of questions with you to the meetup so that you go with a defined purpose. 

Partnerships where the roles are not clearly defined (which is what you have here) are going to be even harder.