The Taxable Value is uncapped and equated to the SEV upon a sale or other transfer of property ownership, with limited exceptions.Homestead versus Non-Homestead Millage RatesCounties & cities in Michigan are allowed to set their own millage rates, with one restriction – a primary residence (Homestead) is exempt from up to 18 mills of school taxes on their Homestead property.

Some of the simpler asset protection solutions would include the following:  having max funds allowed in qualified retirement plan or IRA rather than personal as retirement plans are exempt assets in Federal and most state bankruptcies; investing through an annuity if your state (Florida and Texas for example) exempts insurance policies and defines annuities as an insurance policy; taking advantage of maximum homestead exemption in your state; use of corporations or more popular LLC or Series LLC to limit liability to the entity holding the asset; reasonable liability insurance if available; separating asset ownership from asset management; etc.I can design a simple, cost effective asset protection strategy of up to about $5million with little cost IF the individual resides in Texas or Florida.  

There are foreign national programs with 25% down for single family residences and 30% down for 2-4 units with a $100K loan minimum.

Since I am out of state, the plan is for us to buy it together and he will make it his primary residence to get the lower down payment.

Long term i would look to 1031 the property into either my primiary residence when i start a family(i rent now) or a better deal.

@Priti AgLong-term residents often dislike short-term rentals (STRs).

I kept my first house as a rental after I moved out and bought a new residence. 

Some other areas may attract influx of residents from other states who find triplex on very small lots attractive. where do I find that data?

You can directly contribute to improving the area, helping residents access safer and better-quality living conditions.Hopefully, this gives you another avenue for real estate investment in a growing market like Charlotte.

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