A property qualifies as Homestead for this exemption if an eligible owner files a Principal Residence Exemption (PRE): https://www.michigan.gov/taxes/0,4676,7-238-43535_43539-210891--,00.html#:~:text=Section%20211.7cc%20and%20211.7,purposes%20up%20to%2018%20mills.Many investors have gotten an ugly surprise when they bought a property that was a primary residence of the seller for the last 20 years.

Investor buys in a  market that has poor fundamentals and is stagnant.

You should be placing far greater emphasis on the  fundamentals of the neighborhoods in which you invest.

@James Kiefer From what I understand Pittsburgh happens to have some decent underlying fundamentals so it may not be a bad place to invest but certainly speak with local experts.

If you can, check out VA loans/FHA Loans/ Other govt loans—see if you’re eligible - leverage!

We believe that real estate is fundamentally a local game and without local knowledge, we’re going to get wrecked.

I assumed because of my salary / savings I wouldn't be eligible but haven't dug into what qualifications are.

Starting on BiggerPockets is a great idea – it’s a fantastic resource for learning the fundamentals and connecting with experienced investors.The key to success is finding a profitable deal that aligns with your goals.

@David RickettsTo enter a mortgage assumption with partner funding, evaluate the mortgage's eligibility, impact of HELOC, and property condition.

I think the long term fundamentals here are solid with job growth and population growth, it’s just a matter of the new supply getting absorbed which will take 2-3 years.