Similar to CA's proposition 13, a person's primary residence, regardless of increases in market value, has an annual cap of a 3% increase for taxing "assessed value".  

Is it the freedom, the romance, the high-risk high-reward proposition?

Pocketing the up front part of the claim sounds like a questionable proposition to me...

-> Unique Selling Proposition.

If you are committed to finding the answer you need to do your research and find several buyers of properties that were rehabbed and speak with the renovators of those properties and find out if it was a money making or a money wasting proposition.

. -- Just finding this conversation now, as I am looking at a very similar proposition for my son at Columbus State (GA).

I take umbrage with both.All learning is from the proposition that we "Stand on the shoulders of those who have preceded us". 

We will definitely keep this in mind.We will be using it personally too and that was out biggest hurdle in the value proposition for us.

I am afraid I may be a bit too early, and there would of course be a bit of speculation involved in terms of the local government following through (which is always a risky proposition) and people taking to the changes.I am also mindful of the added risk of condos due to HOA and assessments, but even with the HOA fees the numbers in Brick still look pretty good at the right price (assuming foreclosure or short sale).

I am soon moving to Tampa and want to start what I want to make my REI career there.  I have been looking for deals on-line, dealt with several RE agents who after a while give up helping me.I read articles about crea...