I also did a local renovation in 2022 bringing it up code.

That being said, your typical cost of capital is as follows:EquityAgency debtBalance Sheet local lenderDebt FundPrivate DebtPref EquityHard Money DebtBookie/Loan SharkOther things that will impact capital sources: are you wanting to finance the improvements, or will you pay for those from equity/cash flow?  

Before making any decision, I would get a customized property evaluation by a local Realtor to determine the value of the property on both sides of the spectrum; sale OR rental. 

We’re not used to seeing emergency declarations as frequently as they do in Florida.Our borrower is a local rehabber with a property scheduled to be funded today and close tomorrow.

I'm also hopeful to get some local cooperation now that he's claiming partnerships with local government. 

How to Track Regulatory ChangesStaying up-to-date might seem daunting, but the right strategies and resources make it manageable.Key Resources:Local Government Websites: These often publish updates to zoning, rental, and housing codes.Real Estate Associations: Organizations like the National Association of Realtors (NAR) or local landlord associations offer regular updates and seminars.Newsletters and Blogs: Subscribe to reputable legal or real estate blogs for insights into upcoming changes.Professional Advisors: Build relationships with real estate attorneys and property management professionals who can provide guidance tailored to your market.Pro Tip: Set up Google Alerts for terms like “rental law changes” or “landlord regulations” in your area to receive real-time updates.3.

However, I would encourage you to Network work local real estate clubs in the PA/NJ area to help identify your target market and ideal investment for your first property.

You are local and adding value add!

If you have a local appliance store near the rental, go there and talk to them. 

Trustworthy property managers can make or break a portfolio, and I’ve found that vetting them carefully—checking their reviews, local reputation, and how they handle tenant retention—is crucial.