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.

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. 

since purchasing the property with a 10% down portfolio loan through a local bank, I have done extensive repair work and renovations.

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.

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.

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

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

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.

., but there’s some good news for renters: local rents have dropped to a 3-year low, with decreases of up to $200.