Anyone in SC understand how Bond for Title works in regards to owner occupied status for tax purposes? If I were to L/O my house or rent to own for say 3 years, I believe doing a bond for title will allow me to maintain the owner occupied tax amount. Does this do anything else for the potential new owner or the current owner? Is it just a simple as keeping the tax status or is there more to it?
I know if you go straight to a rental the taxes will go up about 3x the amount and really cut into any cash flow. My understanding is a L/O can maintain the ooc taxes but you are selling the property at the end of the lease, potentially anyway.