Procedure should be simple as highlighted.Just remember, it was on a Li’s Pendens list so the possibility of it going straight to bank owned without it going through... really an on-market preforeclosure, foreclosure or auction stage is slim to none at best.

Homestead Property Tax Credit arrangements [spelled out here: http://www.michigan.gov/taxes/0,4676,7-238-43535_4...].

If it were to be done do you know what the arrangement would look like in more detail or who I could ask for more info?

@Rapy Narruhn avoid funds at this stage in the cycle and focus on direct investments. 

It might be one, but I live too far away and have too many home responsibilities to be the one to refine it at this stage of my life.  

I love the idea of house hacking, but at my current stage in life it's just not an option.

I’m looking to dive into real estate in the next couple months, probably via fix and flips. My starting liquid funds are about 100k cash, 150k HELOC, and 250k in a self directed IRA. I’d like to form a partnership wit...

What would be a good partnership arrangement?

Thank you for the reply Monica.We are still in the early planning stages, but if we decide to go though with it, I would enjoy sharing my knowledge and adventures on this forum.Your suggestion prompted me to investigate renting my current home. 

At that stage, everything you say must be in written form and copied for your own records.