I'm not saying you're doing this, but people will often make the mistake of looking into the highest priced rental unit and making that the "market rate" but it's often not a true comparable to the subject.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

There are plenty of deals in Philly on and off-market from wholesalers, who are pretty decent in Philly compared to other places.You will need to get your GC license here and learn the permitting process and necessity here as well.

A lot more important compared to newer construction homes where you don't have to deal with certain things when it comes to either of those.Many other nuances but those are just a few that come to mind.

Also would love answer to the following: - Are there any specific challenges or advantages you experienced compared to a JV structure?

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Any kind of non QM financing will have higher closing costs compared to conventional.

Compared to fixing them both up and paying full taxes as flips.

The 2nd person really liked the house and even mentioned how nice the rehab was, relative to comparables they have seen.

I think finding property is pretty easy compared to managing.