We also have a Realty Transfer Tax that is applied anytime a home changes hands. 

My partner and I are looking at one in Houston with the expenses and deductions totaling ~45% of the gross potential rent of the property:That includes 10% for vacancy allowance15% for planned and unplanned maintenance (lawn, CAM, repair allowance)7% for property management12% for Taxes and InsurancePosted deals often excluded expenses, so I want to ask the BP community for wisdom.Questions: To the experienced eye out there, how does those expense %’s look?

If available get RCV added to your policy.BUSINESS ENTITY: Your business entity should own nothing and be the "Trustee" for all of your land trusts.PO BOX: Get one and have all business and tax papers sent there.

I previously had my taxes done by a family member's accountant in a different state, but this year I'd like an accountant in Texas.

I previously had my taxes done by a family member's accountant in a different state, but this year I'd like an accountant in Texas.I have money coming in from rent, investments, my regular job, and other side things, so I'd like to work with a professional to help me do everything correctly next year.

Yeah they dont seem to motivated to sell as you would think for how long the house has been on the market and the fact that they have already moved and are still accruing property taxes and HOA fees every month.

The property has a current tax valuation of $861k and I am looking to purchase the place for nearly double that (it's actually a great price for the building trust me!). 

Annual numbers are:Built in 1984 - Seems to be a B class complexPotential rental income $900K-$1M gross6% vacancy ($60K), $20K addition income from vending/laundry - no other amenities, $65K taxes, 5% ($50K) Capex, $28K Insurance, $16K contract services, $90K payroll/staffing, $150K repairs/maint, $6k utilities (tenants pay their own), $10K accounting/legal, $5k advertising/marketing, $100K (10%) PM (is that redundant with staffing?)

Are you referring to taxes or lawsuits or something else?

The law does recognize that anyone who for years does not use their property, does nothing to maintain it, does not pay taxes and cannot be located through their contact info and addresses of record -has implicitly abandoned their real estate.