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.

The resident pays the second month on time and then, and only then, do they get the concession.If the market is soft, and we are having trouble renting, before we consider concessions, we look at the product, the marketing, and lastly the price.

In California and Florida there are two State run plans of last resort (Cal Fair and Citizens respectively) for the otherwise uninsurable; properties that private companies have already deemed too risky and are effectively subsidized by taxpayers.

Leave you with one last question: Does your reports from any software tie in to exactly your tax return? 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Last house I did all the work myself except for drywall and insulation. 1150 square feet, down to the studs, everything new except the roof and I spent $66,000.

@Ryan Swan, funny you say that, I just used all of my votes on that one feature last week, which kind of sucks because I wouldn't consider that an "enhancement" as much as just a total whiff on Buildium's part.  

I just went through this last year, but after 20 years. 

@Christopher MorrisTo add to what @James Hamling said, it also depends how much you need every last $ of income, how much more money you can make doing something else (W-2), or how much you value your time. 

Last time I talked with them they did.