Hey BP Community,Doing a rehab in North Philadelphia and was wondering if anyone had any recommendations for a general contractor.

It's generally easier to go from short term rentals to longer term ones but it's not a guarantee.

And, generally,  if you do take out the money out of the LLC, there is no tax implication. 

What’s your experience with working with General Contractors in Enterprise?

Generally speaking, an LLC does not give you tax benefit in the case of holding rental property.

Have you asked to take a contractor through to get a general idea on rehab cost?

Though there’s different opinions on what percentage of your monthly income to estimate for repairs, vacancy and turnover generally the numbers are 30-50% of your monthly rent goes to expenses.

Hi Everyone,My wife and I are new to American real estate and real estate investing in general.  

The problem is, that this seems like the sort of thing that would be a huge concern for most lenders causing them to either give me worse rates or no mortgage at all...So, I have 2 general questions:1) Is it possible / practical to get a mortgage without an active income source?

The forms are available from the Illinois Secretary of State's Office.