You may need to register as a foreign entity, file a tax return, and pay taxes in PA.

Here are the details of the property:Property Overview:Location: Texas2 lots, 2 warehouse buildingsFinancials:Mortgage: $4,897/month (balance: $530,000)Insurance: $830/monthProperty Tax: $1,800/monthBuilding 1:1 tenantRent: $7,570/month12,000 square feetBuilding 2:3 tenantsTenant 1: $2,850/month (5,000 square feet)Tenant 2: $1,793/month (2,500 square feet)Tenant 3: $895/month (1,250 square feet)The property was appraised for $2,200,000 three years ago.Given the current rental income and expenses, the cash flow is decent, but my family friend is looking to explore options that could potentially yield better returns.Would it make sense to:Sell the property outright and invest in higher cash-flow opportunities?

I will say that from my discussions with the City during my due diligence, they really seem to be cracking down quite a bit on STRs.

Cable TV was not considered an essential service, so due to Covid they would come setup Internet but not Cable TV.

How much are you spending on tax filings, anderson advisors, banking and checking accounts per year?

My concern is that if i apply for a HELOC to use for the down payment before i apply for a mortgage, A) I wont get approved due to my DTI ratio, and B) I wont get approved without first showing the bank I have the 20% down payment before pulling the HELOC.

Those records not only helped with tax filing but also guided future projects by showing what provided the best ROI.

I would also recommend doing your due diligence on the new lender, and make sure they are not just a salesy loan officer trying to win you over with term sheets that don't exist... 

Real Estate Market Predictions for 2025Single-Family Homes: Prices will likely remain flat due to homeowners holding onto low-interest-rate loans, causing fewer properties to hit the market.

Most of them do not and can even hurt you - as your S-corp with rentals. yeah this was under the guidance of the tax professional i went to.