I'm looking to purchase an off-market home in my neighborhood and ran into a hurdle that I might not be able to overcome...For context my elderly neighbor who I've been friends with for the last couple of years recently passed away.

I did a little over 10k business with a carpenter last year, when I asked him for W9 to send him a 1099 NEC, he told me i am the only one asked for W9.

If they have lived there for 2 of the last 5 years, they could do Subject To, Contract for Deed, and probably get the tax exemption.

https://www.har.com/content/department/mlsHouston Real Estate Highlights in January, 2024:-Single-family home sales rose 9.0 percent year-over-year, the second increase in two years;-Days on Market (DOM) for single-family homes went from 60 to 58 days;-Total property sales rose 6.9 percent with 6,098 units sold;-Total dollar volume was up 11.9 percent to $2.3 billion;-The single-family median price rose 2.1 percent to $320,500;-The single-family average price rose 2.7 percent to $391,080, the first time that figure has been below $400,000 since last February; -Single-family home months of inventory registered a 3.3-months supply, up from 2.6 months a year earlier;-Townhome/condominium sales continue the declines that prevailed all through 2023, falling 4.0 percent, with the median price up 14.1 percent to $223,000 and the average price up 7.0 percent to $247,437.

I thought my average profit of 30k per house was good but when you consider that lending favor building over flipping and how easy the money is to get to build vs flip the logic is undeniable.I've now spent the last year and a half selecting the designs, building relationships with the right GC, lenders and suppliers and am ready to start building some houses.Who's in? 

A property qualifies as Homestead for this exemption if an eligible owner files a Principal Residence Exemption (PRE): https://www.michigan.gov/taxes/0,4676,7-238-43535_43539-210891--,00.html#:~:text=Section%20211.7cc%20and%20211.7,purposes%20up%20to%2018%20mills.Many investors have gotten an ugly surprise when they bought a property that was a primary residence of the seller for the last 20 years.

I had a few cancellations last summer and I didn't rebook all of that time because my guests are extended families and need more lead time to coordinate vacations.

Last individual is a retiree who has money to invest but wants to be a silent partner.

Looking to purchase an off-market home in my neighborhood and ran into a hurdle that I might not be able to overcome...For context my elderly neighbor who I've been friends with for the last couple of years recently passed away.

For the last 2 or 3 (maybe 4) years, I've had a special assessment tacked onto my monthly HOA for a building repair (boiler replacement I think).