Investor from NYC looking at Philadelphia

[Anthony G.]

Hello Bigger pockets community. I am from NYC, I would like to invest all cash in 2-4 unit apt. buildings in Philadelphia that need work and then cash out refinance. I would like to pay no more than 6-8x the rent roll after all repairs. I would love to do this here in NY but Im priced out of the market. Statistics show average home price ranges from 150-200k in Philadelphia. Though Ive been through the process of buying a home, this is my first time doing a project like this. I would need to learn a lot more about Philly and PA state laws and put together a solid team there. I know I'm going to have to put my boots on the ground to get more knowledge about the market but would love to hear any suggestions to help me cut my learning curve, and to hear some thought on how realistic my expectations are, and what would you do to start gathering information before I start spending my weekends in Philadelphia. Any comments or suggestions are appreciated. Hope to talk to you soon!

Thank You

Anthony Giaconia