As Scott said, there are two different paths and while they are not mutually exclusive, they are different and require different approaches. 

That sounds like a smart approach—let the PM handle tenant placement, then take over the rest yourself.I’d recommend checking out Baselane.

The challenge is financing—construction loans have shorter terms and draw schedules.

Challenges?

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@Ben Elashvili  You're taking a smart approach in value-add rentals in Philly.

As colder weather approaches, I make it a priority to stay informed about weather conditions and plan accordingly.

Hi All,I have a rental in Irvington, and an agent approached me to help me rent it.

For me, "Investor Friendly" means being licensed, ability to pull all permits, good communicator, is on top of their subcontractor contract management, makes sure I get insurance certificates and endorsements from all subcontractors listing me  as additional insured under their policies, honors warranties, has credit accounts at supply houses and can work well with my bank draw schedules,  is willing to approach me when there are issues rather than cut corners to "stay on budget".

I am evaluating land investing current market trends, challenges and outlook to structure an investment strategy.