A property qualifies as Homestead for this exemption if an eligible owner files a Principal Residence Exemption (PRE): https://www.michigan.gov/taxes/0,4676,7-238-43535_43539-210891--,00.html#:~:text=Section%20211.7cc%20and%20211.7,purposes%20up%20to%2018%20mills.Many investors have gotten an ugly surprise when they bought a property that was a primary residence of the seller for the last 20 years.

If you plan renting out this property, that cost recovery comes from cash flow (equity doesn't count). 

If B-E are all treated straight pro rata based on equity in that class, then I am less concerned.  

Also, was there a trust, is it going through probate, are other family members wanting to get their piece of equity? 

So I did what most serious new investors eventually do and learned how to get private money debt partners and equity partners.

The bank will make you leave 25% equity in the property - but you also still want the property to at least cash flow some - so be careful how much equity you pull out / new debt you take on.I would do a cost benefit analysis of what your actual gain is in cash-flow on buying a new property with a (currently) higher interest rate (if financing), versus just holding on to the current appreciated property and enjoying that cash flow.All the best!

Investment Info:Single-family residence buy & hold investment.

So I have my house that refinanced in 2020 for a 15yr 2.5% rate and we have about 56k equity.

It seems like there should be sellers that would be willing to take their equity or at least a portion of it in trade for bitcoin.

The loan does need to be secured by the property being improved if we are talking about a personal residence and personal itemized deductions on Schedule A.