I just had a quick side bar question pertaining to the question.

(Lurkers: good example of why threads/podcasts/content/etc from a long time ago, that pertains to mortgage guidelines, should always be ignored)

I use any rental income to pay for utilities, business expenses pertaining to the house, etc.I plan to open a new bank account for the Philly house for expenses/income but can it be the bank I use here, or has to have a Philly location? 

Then, with that letter you can explain the new process as it pertains to rents, reporting problems, etc. 

One problem I see is me not having a house selected by the rental period ending, or finding a house too quickly.The questions I have are:A) Are there any things I should watch out for with FHA, pertaining to off market deals?

Do you know anything about zoning laws as it pertains to building new properties?

Primarily looking to do rehabs pertaining to the BRRRR strategy so if anyone has had great experience in these markets using a general contractor I would love to hear about it!

While this pertains to HUD insured and assisted multi family housing I tend to believe this to be good enough for all other property types.  

My questions pertain more to the lending bank (the one i have the HELOC with). 

As it pertains to PM, you will want to factor in the cost of management whether you intend to manage the property yourself or not.