I'm guessing you are preparing to appeal your taxes . . . My husband and I appealed ours 3 years ago. We consulted with attorneys, etc. but decided to fight on our own. My best advice is to build your case by first going to the township or city and receive your property card. Make sure that everything is accurate - - ie. measurements, etc. Next, we requested the property cards of neighboring homes with similar features and made comparisons. It took us two years, but we successfully had our taxes reduced. After we were denied at the township level, we appealed to the state tax tribunal. There was a terrible back-log in cases, so it took over a year before the tax tribunal ever scheduled a hearing. As the hearing approached, the township assessor contacted us to settle, which we did. We had purchased the house (which was a foreclosure) for $100,000. The township taxed us based on the value of $177,000, which they claimed the house was worth. As I stated, we reduced the taxable value to $57,800.
It was a tough and stressful battle, but definitely worth it!... more
The market is strong in Grand Rapids for duplexes. The area has many universities and colleges and these areas tend to be great for rental opportunities. Grand Valley is a large university and a good place to start. Walker is a good area, close to the university.... more
Before you walk away, call Wells Fargo and have a chat. Tell them your thoughts, they will possibly offer you to refinance out of the Adjustable rate on the rental. Also I would send an certified letter to the renters telling them to pay in full or get out. Walking away should be a last resort.
You can also call another lender to refinance.... more