The one good thing about such a provision is that it allows the senior lender to start foreclosure (or notice of default/cure period) immediately.      

The senior tax lien forecloses and the proceeds from the sale would first go to them to pay them off, then would go to you as the junior lien holder etc. 

I think that would be pretty hard to police.

That means calling the inspection office to see if they have an open permits, if it is in fact a legal x unit, does it have any housing violations, has their been any police activity near the property, have any of the current tenants had an eviction on their record.

This was done to protect senior citizens on fixed incomes from being forced to sell their homes due to unaffordable property tax increases.Since the passing of this amendment, all properties in Michigan have two property tax values associated with them:State Equalized Value (SEV): supposedly equal to 50% of the market value of a property, not based on recent sales price.Taxable Value: the SEV annually capped as long as there is not a transfer of ownership.City Assessors are charged with determining how much property values have changed each year.

How is that any different than someone renting rooms to students, seniors, etc. ? 

The woman reached out when she received the check and said that she could not even find or get ahold of the ex boyfriend (I had also been contacted by the police who were looking for the guy so I was inclined to believe her).

The police & animal control are very little help because of a lack of resources... always good to see my tax dollars at work!

I stayed mostly with Multifamily as other sectors like Student housing, Senior care, Hospitality and NNN have too much risk for me. 

Prior to this, Matt and I were senior leadersof Profound Commerce, an e-commerce aggregator founded by Matt in 2018.