There's a comprehensive list of tax millage rates for Michigan communities at http://www.michigan.gov/documents/taxes/2014_Total_Rates_Report_-_Entire_State_480472_7.pdfIt's a common misconception that property taxes in Michigan are based on the sales price.

What are the alternatives as to the misconception of using hard cash?

As a securities attorney, I hear lots of misconceptions about whether someone is selling securities, such as: I only have one investor, or I'm  raising less than a million dollars; or I have less than 35 investors...

Washington vacancy is still pretty high, its a common misconception that offices there are full.

And there's this common mis-conception here on BP among newbies that multies are "safe".

So, I have plenty of probable misconceptions!

@Joe S.This is a common misconception among buyers- because they pay for the appraisal report they assume it belongs to them.

@Tyler Hallman I had that misconception as well.

The common misconception is that it will bring you referral business.

You get whatever the difference is between what you have it under contract for, and what a buyer is willing to pay you.There is a misconception that you just tie up the property, and then cancel the contract if you can't find a buyer.