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 just the property's 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.

Each unit has separate entrances.2) I’ll be transferring utilities which I currently pay for.

For long-term wealth transfer use a family trust or family LLC to shift appreciating assets tax efficiently.

I'm about ready to file a complaint on them with the FDIC.Moral of the story, it's a nifty application but I would be careful about how much money you keep in that account. 

https://www.zillow.com/research/home-value-decline-35724/
𝐖𝐚𝐢𝐭𝐢𝐧𝐠 𝐟𝐨𝐫 𝐭𝐡𝐞 “𝐩𝐞𝐫𝐟𝐞𝐜𝐭 𝐭𝐢𝐦𝐞” 𝐭𝐨 𝐢𝐧𝐯𝐞𝐬𝐭? 𝐓𝐡𝐚𝐭'𝐬 𝐲𝐨𝐮𝐫 𝐟𝐢𝐫𝐬𝐭 𝐚𝐧𝐝 𝐩𝐞𝐫𝐡𝐚𝐩𝐬 𝐛𝐢𝐠𝐠𝐞𝐬𝐭 𝐦𝐢𝐬𝐭𝐚𝐤𝐞.
According to Zillow’s latest research, 53% of homes declined in valu...

I am excited to transfer into the wholesaling  side of the business.

There're tax consequences, and they have to be examined if the property has indeed been transferred. 3.

That money has a due date.

Or you 1031 exchange at some point into DSTs (Delaware Statutory Trust) and just live of mailbox money.

My name is Luis J. Montero, Marine Corps veteran and founder of Summit Legacy Holdings, a California-based holding company focused on building long-term wealth through BRRRR real estate investing, land acquisition, an...