Must have Articles of Organization, EIN Letter, Operating Agreement. 3.

For your example, making the basement fully operational as a livable space seems like a great value add.

Benefits of the ATI ExemptionThe ATI exemption offers several key benefits:Reduced Tax Burden: By lowering the assessed value, property owners can significantly reduce their property tax bills, freeing up resources for other investments or operational expenses.Encourages Investment: For real estate investors, the exemption makes South Carolina a more attractive market by reducing the tax impact of property acquisitions.Substantial Tax Savings: The reduction in taxable value can lead to considerable property tax savings over time.Multi-Year Benefit: The exemption can apply for up to five years after the sale (based on SC revaluation cycles).Wide Applicability: It’s available for various types of properties, including multi-family projects, commercial properties, and even vacant land for development.Who is Eligible for the ATI Exemption?

And there are some great multifamily operators out there and then there are others.

If you have limited prior experience owning / operating multifamily assets, they'll also require you to use a professional property manager with multifamily experience.

AL has the second lowest property tax rate in the US allowing you to keep your operating expenses at a minimum. 

Where it's acquired in a rather run down state of operations.

this works well if the tenant is a national user or multi unit operator who has built these buildings many times. 

Hey @Tim Bergstrom, not sure if you've made any progress on this - we're operating in nearby Lexington and have vetted a few deals in the Louisville market.  

Many investors start their journey by diving into individual distressed property deals, but if you want to grow into a high-volume operation, it’s essential to change your mindset, strategy, and execution.