I work with a lot of househackers and they're typically on the 12 month cycle, rinse and repeat.While the proposition of acquiring an investment property outside of your market in a "landlord friendly" state may sound appealing, i would recommend you stay local for now and househack another couple of properties over the next few years until you've got some more time / experience under your belt.you would need a management company to cover your property that is outside of your market which would not only take 8-10% of your gross it would also leave you a bit vulnerable to a property management company that you A.)know nothing about and B.)you won't have the experience or cashflow or proximity to deal with any headaches that may arise.i would recommend staying local and househacking your way along for now and then maybe hire a local property management company initially to work with your current/local properties to get a taste of what to expect if and when you begin investing outside of your market.

Do you have inhouse construction department to reno units, or are you hiring outside contractors? 

Owners shop fees in the beginning, but once you're seasoned, you realize fees are usually about the same, and it's really process, procedure, culture, and communication that you're hiring. 

I hired a surveyor,  engineer and ran through the process with the city myself. 

It can make leasing a bit harder since you will have more vacancy when those come do but it will all be in peak season.With respect to the hiring decision, you would need to hire someone to replace you (perform the same functions you currently perform) so that you continue to work up the ladder (spending more time on higher value tasks).  

Nothing like word of mouth referrals.Either way you definitely want a way to check/verify their work before hiring them.

I understand why carriers associate Condo/PUD construction with greater liability risk (I am sure being based in Philadelphia, a jury friendly city doesn't help either) but curious which carriers others are finding to price coverage without this exclusion and also price the coverage competitively.This also serves as a reminder to review the coverage when you hire a GC for more substantial or unique construction assignments. 

When they decided to inquire about the rescue fund they left me out of all of it then threw me on a call with the lender, rescue fund, an attorney they hired for themselves and a few partners.

If you adhere strictly to the laws, you will be limited in the services you can offer to your relative compared to what they would get if they listed their property with a licensed agent, and they will get less money for their property working with you than if they hired an agent.

We had to wait approximately 6 months to finally receive it within our own account   He also did not begin marketing our unit until late November 2023, which was ready to market immediately upon hiring Jeff.