You can successfully and fairly easily manage an STR out of state, however for your first one I think it can be helpful for it to be within driving distance (3 hours or less) and it will simplify filing / paying for taxes and tax preparation.

Once you close on your property:- You need to get a Phila tax IDhttps://www.phila.gov/services/payments-assistance-taxes/tax...- Then you need to register for a commercial activity licensehttps://www.phila.gov/services/permits-violations-licenses/g...- Once you have a commerical activity license you can finally get your rental licensehttps://www.phila.gov/services/permits-violations-licenses/g...All of the above will be done using the eClipse online portal systemIf your property is built before 1978:The system will kick back your application and you will not be able to get a rental license until you get a Lead Safe test.This is when you will hire a licensed 3rd party to come out and doing a lead test for you.

Thank you, Jay.In my limited understanding of interest taxing, there are states which do not tax such income.

I need to raise the rent on the next lease I will have him sign to cover maintenance and fees.

As the local governments struggle to manage tax payer money responsibly, they should really offer incentives to private builders to build "income restricted" at a much lower price. $220-$300/ft for vertical build costs.  

I'm a Canadian investor and like you have been experiencing the same issues in Ontario, I've started investing in the US where the tax climate is better, borrowing is much easier and evicting non-paying tenants is much more fair.

The mentor/coaching space can be confusing for sure - and was especially hard for us to know what to look for when we started (and we paid some "dumb tax" getting in the wrong group at first).

Register for a Philadelphia Tax account using my LLC as the property manager?

- Tax Advantages?

Remember also that the interest on the loan is taxed at ordinary income rates.So for example lets say you have 100k and were making 8% in the markets - 8k per year and say you are in top bracket, you will pay $1600 in taxes per year or netting 6400.Now lets say you did a loan and were at 5% you are earning $5k per year (actually less because principal is being paid down and some of money goes into essentially a 0% checking account).