The mayor stated that he will support more restrictions as well

Being that we both have individual assets to protect, an LLC would seem like a no-brainer, except for the fact that setting up an LLC would rule out conventional loan sources. 

@Kevin Buck As others have said we would need more info in order to properly assist you, but, your friend should look into the rules of the HOA first to see if the property can be rented (if he hasn't already). 

But everytime I contact for support Im satisfied.Henry

Our aim, much like many BP'ers, is to have a flip business that supports scaling our buy-hold rental portfolio.

If you ever mention the 70% rule I will hunt you down and disown you!

Multifamily properties are more abundant in West Philadelphia, but that's not to say you should rule out other neighborhoods (West Kensington, Brewerytown, Temple U vicinity).

Here is my previous thread on the topic: https://www.biggerpockets.com/forums/664/topics/41... .There really isn't any factual support for the proponent's claims.

I am excited to become apart of such a supportive community.

Most of their income doesn't meet the 3x rule.