@Stephen Fleming your cashflow probably won't be what you think it will be:(Have you factored in the new property taxes at homestead millage rates?

Typically, the adjustments I see on appraisals for basements are more flat rate adjustments. 10k is usually the number I've seen.What stinks is that there are a couple of model types that have below grade space where the builder, I'm sure, was trying to lower the taxes by having it below grade so the county wouldn't count that space in the assessment.

If you are taking out a conventional mortgage of any kind, you can't buy in the LLC as it does not have two years of tax returns.You are also asking if an entire state is good to buy multifamily, which means you are too soon in the process to even talk about buying.

I am about to graduate college in May 2025, and will be making about $120k (pre tax) in my full time job postgrad (Washington DC area).

Are there any fees/taxes associated with AL licenses?

@William TaylorMichigan has some of the most complicated property taxes in the USA.

I'm starting out doing redeemable tax deeds and going to auctions where everybody has "bigger pockets" than I do.

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. 

Dig deep into tax strategy, tax efficiency, etc  Learn about estate planning. 

.🔹 Property Tax Relief – If your property is severely damaged, you may qualify for reassessment and potential tax refunds.