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.

As large investors entered the market to acquire single family houses, our margins were squeezed and we ultimately could not maintain our target investor returns as the market totally changed.

I've built a $18M RE portfolio without ever having to do a syndication.I hope I answered your question properly!

Did you ever find out anything?   

I changed my strategy from 2 years ago of acquiring more doors and "cash flow" to now looking at the asset if I continue to buy. 

Once everything maintenance wise settled down, the house is now pretty much on autopilot and I don’t really ever hear anything from the tenants.

Do I need to fill out other forms such as a change of ownership?

Certainly not by liquidating their retirement accounts that just suffered an historic drop in value.Do you feel that Oregon’s bias against landlords is a temporary fad, or a permanent change that may even worsen over time? 

If I ever brought any of them a deal by.a rookie investor in a market they do not know, with work performed by a GC that has 0 relationship with the investor, they would laugh at me.PML is not just Potsy from Happy Days. 

Structuring the Deal with a PartnerWhile your partner cannot directly participate in the loan, there are ways to structure your arrangement to reflect your 50/50 partnership:Option 1: Post-Purchase Equity SaleYou obtain the 203(k) loan in your name as the owner-occupant.After closing, you sell your partner 50% equity in the property via a quitclaim deed or similar legal instrument.Your partnership agreement would outline each person’s roles, responsibilities, and share of profits.Note: Be mindful of FHA’s rules around title changes and ensure this doesn’t violate loan terms.Option 2: Partnership Contribution AgreementYou both contribute to the down payment and renovation costs as outlined in a partnership agreement.Your partner’s contribution could be recognized as a share of the equity in exchange for funding, services, or property management.The partnership agreement would detail how profits, responsibilities, and equity are split.Option 3: Joint Venture AgreementStructure the deal as a joint venture, where you own the property personally (required for the FHA loan), but profits and roles are split per a formal agreement.Your partner could receive equity-like compensation through profit-sharing without being on the title.3.