@Shaheen Ahmed you can find all the info you need online if you know where to look - except that the City of Detroit Assessor's Office is consistently undervaluing properties to keep property taxes attractive for investors - to keep improving the city:)Here's some copy & paste infor for Michigan Property Taxes that you might be able to use as a template for other areas - or you could start investing in Detroit:)----------------------------------------------------------------------------------------------------Michigan has some of the most complicated property taxes in the USA.

From what it looks like builder does not want to take a loss and what to negotiate sale where they do not take a loss even profit, since they are selling improved lots. 

We also have a PLAN to improve the properties, thus increasing rents and improving cashflow.So, it's important to have a pretty good PLAN about what your goals are!

I could add this4) Maximize agency financing to improve overall returns safely

Don't get me wrong, there are plenty of terrible landlords out there, but deciding that you are victim of life's circumstances certainly won't improve your situation. 

We discovered the previous owner had dementia which explained most of the work we needed to do, Our short-term is improving that unit to rental standard, not necessarily adding property value as he and I are still drawing floor plans for Long term.Thank you!!!

And even fewer people seek to improve their ROI on BOTH the things they are not achieving and the things they are achieving.

Are you planning to hold as-is and focus on cash flow, or do you have a strategy for infill, increasing rents, or improving park infrastructure to boost value?

The real issue that can and has reoccurred more than anything else IMO is that the original seller cannot just waltz out and get a new loan after their credit has improved.

It's based on the purchase price and will not include any improvements, reno, or increase in value since the purchase.