Quote from @George Goldstein: You know how when you buy a used car from a private seller you tell the seller to say he sold it for $3000 instead of $18000 so your dmv tax is lower?

page=LoadVirtualDoc&BookmarkID=6536) that capped annual increases to the Taxable Value of a property to the lower of 5% or Michigan's Cost of Living increase.

You will also find hard to refinance it (lower interest rate expectations in future) if you are not in the US.

(mostly cosmetics), what price range that it must fall into at that condition (for the purchase price) and/or what the maximum LTC to ARV must be (in other words the purchase & rehab numbers must not exceed 65-70% of the ARV, the lower the percentage of ARV the better).

On the flip side, inventory tends to be lower so it really depends on the inventory level in your specific market. 

LTC/LTV also lower which combined with depository relationship makes borrowing even more capital intensive.

This implies residential units can be built at lower costs and provide better return. 11) adding an ADU to SFH can make the SFH fall under rent control.

A loan is better that has a lower rate, a longer amortization, and a shorter prepayment penalty.... 

Most lenders will consider only the lower of the initial purchase price + cost or appraised value with less than 3 months seasoning. 

If this Cap is allowed to expire, I would think that there will be a rush to take advantage of it.That should increase demand for higher priced Homes because the Standard Deduction gets reduced significantly AND you can go way above the Standard Deduction by Itemizing the SALT Deductions.If your comps are Single Family Homes and/or small Multi-Family that can convert to an Owner Occupied (think BRRRR here), it is well should rise in value as the Federal Tax deduction lowers the monthly payments for every homeowner with a large Mortgage that also pays State and Local Taxes. too funny I had not thought of the Salt deductions in years and today it popped into my mind then you post this.. very true for high priced markets this will be a huge bene