not sure on full extent yet. 

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

I won't give my full bio here but I am happy to dive into details upon introduction.

I do require full screening for the incoming tenant, and updated income screening for the full group of tenants.

I am guessing you like the numbers you see in Strawberry Mansion and Norristown (Montco not Philly) but do you know for a fact that at those numbers, you can do a full gut rehab and be at a number that will allow you to profit, and along the way make some sizable mistakes especially if this is your first project . . . 

You will be able to take the full 121 exemption and still 1031 any excess gain and all of the depreciation recapture if needed.

(My next visit being Jan 22 - Feb 4)My full time job... 

Looking for cash flow right now, enough that my wife is able to quit her 9-5 and join me full time in Real Estate/Investing.

You can read the full story in our self storage post for that location.  

Thanks Dennis, I think you're right that planning for a more conservative return would be a good idea.I re-ran my numbers at an even more conservative level:Lower ARV: $800,000Lower income levels (I'm assuming it will take a couple years to get up to full potential income, but giving myself 3 years was a conservative estimate):Year 1: 50k (NOI $1,000)Year 2: 80k (NOI $31,000)Year 3: 100k (NOI $51,000)My ROI numbers come out to:1% (year 1) 46% (year 2) 76% (year 3)This scenario seems like an acceptable risk to me, when the upside seems far more profitable.