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.

We are looking to invest out of state, looking into Alabama,  with LTR and/or STR. 

The house gets a deep clean from a cleaning company once a month but this just does not keep up. 

It's not impossible to find, but you may not recover ALL your cash in the refi and may have to wait an added 1-2 years to get it all out. 

Where is this supposed to be? 

The sellers agent said "Any encumbrance on the title at this point is the sellers business and will be handled buy us prior to closing.

We were boing to BRRRR in Ohio but decided to hold off on that as we didn't feel comfortable managing it from this far so held off on it.

Ryan,Thanks so much for the response, can i utilize this if i am not currently renting the property out?

Can you double check my numbers/scenarios here... 

Is anyone doing this?