@Paul BogardTo rent out multiple bedrooms in Philadelphia, understand zoning regulations, consult a knowledgeable real estate agent, hire a property manager, and consider multi-unit properties, student housing, and co-living spaces.

It's quite ironic when you think that Tulum has regulations preventing from building more than 3 to 4 story highs and from building on 40% on any buildable lot.

Check local short-term rental regulations.3. 

A $200,000 duplex might have identical rents in municipality “A” and municipality “B” but the property tax rates will vary, local regulations will dictate licensing requirements, labor rates will vary & the particular location will dictate insurance premiums since insurance carriers will weigh local replacement costs and whether the municipality is viewed as being a “plaintiff friendly” in arriving at insurance premiums.Better situated assets will attract better tenants.

From there, I would like to explore house hacking/the BRRR strategy, but I know there are rules, regulations, and connections I will need to make all this happen.If anyone is willing to have a conversation or thinks they could use my help in bettering their real estate business in return for some advice, I would love to at the very least create some new relationships.Here is my 2.6 cents adjusted for inflation...What about getting a realtor license?

Many banks have been sitting on 2nd liens for awhile now due to compliance, regulations, and other third party risks.

I’m looking for connections with local property managers and realtors as well as for general information on the Rochester rental market, including cost-to-rent ratios, saturation levels, and regulations.

., small houses or retail buildings) that can be torn down and redeveloped.Challenges in South Florida: Be mindful of market conditions and local regulations.

This can lead to more opportunities and partnerships.Market Understanding: As a property manager, you'll gain a deeper understanding of the local market, which can be invaluable when you start acquiring your own properties.Steady Income Stream: Property management can provide a consistent income, which can be particularly beneficial in the early stages of your real estate venture.Skill Development: You'll develop a range of skills from customer service to maintenance oversight, which are crucial for successful property ownership.Brand Recognition: Establishing a presence as a reliable property management company can boost your reputation, making it easier to attract tenants and investors when you start acquiring properties.Cons:Time Commitment: Property management can be time-consuming, especially if you're dealing with multiple properties or demanding clients.Regulatory Compliance: Staying compliant with local laws and regulations requires diligence and can be complex.Conflict Resolution: Dealing with tenant issues and conflicts is an inevitable part of property management and can sometimes be challenging.Financial Risk: There are financial risks involved, including late payments or damage to properties.Market Fluctuations: The property market can be unpredictable, affecting both rental income and property values.Overall, starting with a property management company can be a smart way to enter the real estate space, especially in an area with a clear need for such services.

I was wondering if there are any programs that any of you recommend to becoming a better real estate agent, especially with studying and learning the laws and regulations for the test.