.✔ Avoid Surprises – Owners expect clarity on additional charges.

I understand Philadelphia requires a local property manager. 

I want to avoid the hassle of moving the property to LLC later.

Lenders will lend the lower of the amount between LTC and LTV.Do you require an appraisal and survey?

If you are familiar with the area, which areas do you prefer and which areas should be avoided?

You should always require them to add you to their policy as "additional insured" or "additional interest" and you will be notified if they cancel or change their policy.

hope it works.. but throwing in the affordable housing requirement a lot of times kills the project right there.Also at least in markets I have worked the time lines START from completed submission.. you make your submission and then get an incomplete letter this goes on for months and months soo time lines still extend.. but at least its a step in the right direction hope if works.

Lenders typically require a resume for the GC involved in the borrower's project to assess their qualifications.When it comes to a GC getting funding for their own projects, while some lenders will take your experience as a GC or builder into consideration, most primarily look at your track record as a borrower on title when determining approval and pricing.That said, if a lender deems your experience sufficient, they may allow you to act as the primary GC on your own project instead of requiring you to hire a more experienced GC. 

I want to note that there are additional lending guidelines that are required for these types of homes, and will highlight some of those key differences.So first, what’s a manufactured home?

HELOC Basics:A revolving credit line secured by your home’s equityLow interest rates, but often variableDraw period (5-10 years) → Repayment period (10-20 years)✅ Pros: Lower interest than other loans, flexible access to funds, potential tax benefits⚠ Cons: Home is collateral, payments may increase, short repayment termWhen It Makes Sense:The rental property cash flows enough to cover HELOC paymentsYou borrow conservatively (avoid over-leveraging)You have a backup plan in case of market shiftsSafer Alternatives:Save a larger down paymentConsider seller financingPartner with another investorFinal ThoughtsWith your timeline set for November 2025, take time to research markets, build connections, and plan financing wisely.📌 Key Takeaways:Out-of-state investing can work but requires a solid local team.Use online tools like BiggerPockets, Rentometer, and Roofstock for analysis.A HELOC can help, but be mindful of risks and repayment terms.