If you already have low respect due to a pre-determined mindset, it's hard to approach the community with an even or reasonable keel.

If you are going to be doing the rehab work in exchange for equity then that value needs to be determined up front with a specific timeline that you have to adhere to in order to earn your equity.

Given how the housing authority does their rent price determination on individual units, and government ran programs are never beacons of efficient processes, it can go either way.Note, the examples I speak of only relate to C-Class and below areas.

Steps to PrepareGet Market Data: Research comparable sales to determine the property’s value.

This is a house that I’d tell others to run from, but since we already own it we’re just trying to determine best options.  

Depending on your experience will determine the maximum LTV on a rehab loan.

You will also need to determine how much you want to raise.

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.

.- Value add - When building additional units, what steps should be taken to determine how many can be built?

Property Valuation:Investors look at a variety of factors to determine a property’s value, including comparable sales (comps), rental income potential, and location.