@Mike Lambert That is highly dependent on a multitude of factors like size/luxury class/location/housing type/owner restrictions/etc.

What I'm not sure about is STR restrictions in this area but that's easy enough to find out.

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.

@Arif GungorurMake sure you check any HOA or development restrictions.

Not sure what your time restrictions are but the fastest way to financial freedom and flexibility in real estate is creating a business out of it.

Certain neighborhoods do not allow STR so be sure to check the restrictions when looking.

However, HOAs can also be a double edged sword with fees, restrictions on rentals, or even special assessments.For flips, condos might have less upside since you can’t control the overall property value like you can with a single family home.

These are primarily found in cities with a metro population >1M.Pro-business environment: Many cities treat employers as adversaries through restrictive policies.

If it was me...I'd check with zoning to find out how many dwelling units I could build, and I'd find what the requirements are for those units (type of house, height and setback restrictions, etc.).Then I'd find out what local builders think the cost to construct would be - just get a cost estimate per square foot for 2 or 3 different levels of finish.

Only on the MLS are you restricted to what a seller or agent for the seller have already etched in their mind.