You may find that when you factor these items into your analysis, your cashflow will be lower than $360/mo, and possibly negative in some cases.

Buying in the Burbs of Philadelphia you need to keep some factors in mind;* Follow the Trains coming into Philadelphia* Evaluate the taxes in the towns and major train stops* Will have less turn over with 2 Bedroom than 1 Bedroom mixes* School Systems will be important* Near a college or university* Does the real estate agent own investment properties themselves and willing to show them to you and see how they operate.

The most important factors are the origination fee (should be ~2.5 - 5 points due @ closing), closing costs (ask about miscellaneous fees, do they charge you for their legal services, recording fees outside of title company's costs), rate (typically 10% - 14%, anything above/below that is suspect) , prepayment penalty (should not have one).

This refinance is with a private lender and as @Stephanie Potter mentioned my credit did play a factor, it recently came down a bit because of all the expenses :(  and they are only looking at my score to qualify me, and by the way I did contact your company but they could not help me, don't remember what was the reason though.This refinance or finance would be an adjustable rate loan after 5 years, and if I was to go this route I would probably refi again after 5 years.

There is definitely a hassle factor and some deferred maintenance that you will have to address when you go to sell in 5 years.

Now, this is a broad stroke, because as always, it "depends" on the site, the market, and a number of other factors.  

In addition to replacing all fabric items, replace plastic items too that have become discolored or have absorbed the cigarette odor, such as outlet/switch covers, smoke/CO detectors, etc.A key factor is how long the unit has been affected by the cigarette odor and to what extent.

3) Any other recommendations on what factors are used in order to price your offer in this type of situation, and at what stage do you provide the offer, would be much appreciated.

@Anthony CalecaDo you have taxes and insurance factored in there?

I don't know close to the property it was or how much of a factor it should be.