Selling the property just to comply with a city that, ironically, provides no sewer, no asphalt, no public lighting, overgrown weeds, and deteriorated access roads in that same area would effectively mean shutting down their business and losing their livelihood.That’s a power inequity where the government can obliterate a small business over paperwork.

The day he was supposed to begin the project, he tells me he can only do concrete, because the city doesn't allow gravel, that if since I didn't previously have gravel I have to put down a solid surface like asphalt or concrete.

Before my dad passed away 3 years ago, he built a very profitable asphalt construction business (paving driveways/ parking lots).

The red tape, permits, and costs far out weigh the benefits. 

Some investors love it for the guaranteed rent and lower vacancy, while others say the inspections, red tape, and tenant management make it not worth the trouble.For those of you who’ve done it — or are doing it now:How’s your cash flow and stability compared to market-rate rentals?

Age of roof matters for repair, a 40 year roof at least in the northeast would be pretty worn (curling, missing asphalt,etc, soft spots  and I wouldn't repair.

I’m trying to stay fully compliant, but the timeline and red tape are proving tricky.I have a fully furnished condo in downtown Atlanta—walking distance to Mercedes-Benz Stadium, State Farm Arena, and Centennial—and I’ve done my homework (AirDNA comps, local demand trends, etc.) to make sure the numbers make sense.

The program is full of red tape, but it's worth it because the regular rates are lower than market rates & you can buy the rates down quite a bit. 

Units 1 & 2 rent for $1,550/month eachThe remaining single unit rents for $900/monthTotal current market rents should be at least 15% higher given the location and conditionLight renovations can boost rents by 25-30%, creating immediate income increasesAdditional Revenue Streams: The 400 sq/ft rooftop deck and garden outdoor space offer potential for higher rent premiumsThe 400 sq/ft two-car garage can be leased separately or repurposed, which is a significant value-add in PhillyZoning and Expansion Potential:The property is zoned RM-1, with existing rights to build 2 additional units by right, without zoning board hearings or red tape.

Hard Money is fine, but it has its red tape, and Hard Money has its own investors they need to keep happy and you are subject to guidelines, rates, processes changing on the fly and working against you.