Homestead on a property???

[Harrison Krause]

Hey guys I’m finding a lot of homes here that are great potential wholesale properties. Although I’m still building my buyers list so haven’t moved forward yet I was curious if anyone could further explain homesteads to me. I’ve researched them and can’t quite get the grasp of what all it does. Is it an advantageous feature to have when finding wholesale deals? Also what does the homestead actually do for the property? To my understanding it’s just a protection from property taxes but like I said that’s just the gist I got from researching online.