The options are, demo the lot, split the lot and then sell 2 lots to the builder or build myself.

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.

They can sell tax free.

It is not uncommon - main reason we see right now is over inflated original ARVs and now borrowers cannot sell and pay off the lender. 

Wholesaling is another way to generate cash by finding off-market deals and selling them to investors.

And it can work really well for you as long as you pay attention to the statute requirements.In order to defer all tax you are selling investment real estate and buying investment real estate of at least the same value you sold. 

If your goal is appreciation, you'll find markets that have very little cash flow (if any), and you won't realize your return until much later down the road when cash flow catches up or you sell the property.There are probably thousands of markets to invest in.

You’re just trying to make a few bucks to buy your own toys without committing to being a full-time shopkeeper.But here’s the thing: Wholesaling without a license is like running around the playground trying to sell toys out of your backpack.

All things considered, on the market for months, its now winter time, cold weather, holidays, and dark at 5 pm, not prime selling time, I offered $250,000. 

The one guy I spoke with said they make money only when they sell to potential investors and they only sell new construction homes that are usually pre-leased to buyers (currently they are building in Texas state and Missouri State).