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.

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

In a similar vein, how would you determine what "market rate" for your units are? 

Constantly trading properties would take to much time and mental energy, which I need for something else.

The answer to help you determine this is here https://www.biggerpockets.com/forums/51/topics/1164415-ne-re... ...

Some people need 2% above the borrowing cost (8% cost of hELOC you gotta then make 10% + etc) and others will want to double their cost of capital or 200% so it depends.Everyone's going to give you their anecdotal experience or what their preferences are so its good to hear it all and determine your own.

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

If there’s no response, consulting with a real estate attorney would be wise to determine how to terminate the agreement and recover unpaid rent.Once they’re ready to switch PMs, I can recommend some reputable property managers here in Indianapolis who are responsive and trustworthy.

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

The background check is supposed to identify the amount of risk, then you determine whether you can mitigate that risk or not.