I have know about this redevelopment plan for two years now, but not sure if it is really going to take off.

., so make sure you're networking with lots of other investors, property managers, contractors, etc. in your area and asking them about the numbers.

They also have their own property management arm (which I use) and have affiliated contractors if you need work done.  

If turns out to be a rental (which is my expectation) then I will bank the cashflow and work towards the BRRRR strategy to add another property in the near future.What I’ve been doing lately to make dreams realty:-Listened to one or two BP Podcasts a day-Spent tons of spare time on Zillow browsing properties-Identified a single family property that has real potential to be my first deal-Gotten an insurance quote and dug up tax records on the property-Talked to a couple area realtors and chosen one whose background and experience best fits my goals-Toured the property-Crunched tons of numbers based on different scenarios-Arranged a second showing for tomorrow, with a local contractor who will be joining me for the showing to provide a quote on the work that would be needed.I am super excited for tomorrow!

Also I can make myself, my attorney, and my contractor available to you for questions and would be happy to speak with you further on this matter.

Newark is redeveloping quickly.

Aside from having to put 10-20% down to secure the loan, what can I expect to encounter when dealing with hard money lenders in terms of interest rates, points, getting the funds from them to pay contractors/buy supplies, etc.

When we did this, it was a small part-time job for me to "manage" all the contractors, and make sure everything went on time, but I loved it!  

Hi everyone,I was wondering if anyone had and general contractor recommendations in Philadelphia.

I think you might also want to talk to a couple of contractors to get a firmer number on construction costs.