With a PM in place, this situation should have been managed more effectively.

Looks like is passed in 2022, effective this year.

LOC's can have negative effects on your future purchasing power if not set up correctly and keeping in mind you can "never" use an LOC as a reserve or asset.It will always be a debt burden and can over inflate your back end debt ratios depending on the W2 income and your liabilities.

Philadelphia has implemented various forms legislation over the years between abatements, land banks and density bonuses geared towards promoting development in areas that suffered from disinvestment and housing affordability challenges with some legislation having been more effective than others. 

They are effectively the same.  

These are people whose full time job is to effectively manage the assets on behalf of the investors. 

I do not consider it as a game when the state laws protect safe unpermitted units and with ab2533 (that goes into effect Jan 1), the legislation has demonstrated that they desires these protections to continue.The reason to get the permit is not because something bad is likely to result from a safe umpermitted unit.  

It is a lot more cost effective to have things custom made than to pay 80% import tariff, plus it is local.

My investment partners and I have made considerable investments in Mount Airy over  the past few years, worked with a number of brokers on acquisitions and can honestly say not a single one has been able to effectively articulate our neighborhood investment thesis which tells you how challenging the neighborhood is. 

Regarding property management, utilizing local property managers can save you time, and using PropStream effectively for filtering properties by distress level and location will certainly help with finding stronger deals.