You said that it's in a "pretty good" neighborhood...is it an A, B, C, D, or F neighborhood? 

I can only imagine it being a D- or else you found a screaming deal.

If the property is in an A or B neighborhood with appreciation potential, house hacking it for a couple years and then holding it as a LTR might be a viable option.......if it's in a D or F area (or even a C-), that's a whole other set of issues to contend with (and you'll want to read up on that topic)...Good luck out there!

Maybe reach out to @Rj D. or @Jonathan Klemm

(Like a long term c for d? Or

Hi Biggerpockets.I'm wondering if you could give a "newbie" some advice on a property in Philadelphia.I currently own an investment triplex (C+ neighborhood) and just purchased my own home (A- or B+ neighborhood).I have an opportunity to buy a bank-owned/REO residential triplex (3-unit building) in a "D+" or type of neighborhood for $62k.

My concern is, staying out of D or even C neighborhoods, I don't know that I can find 2% properties in my area.

Quote from @Dor Sagi: Hey everyone!

Quote from @Dor Sagi: You can read the entire ordinance here: https://cms9files.revize.com/p...From what I can tell, the registration is valid for one year if you have repairs to make, two years if you make the repairs, and up to four years if you are an "exemplary" Landlord, meaning no issues for four years running.The fees are on the registration form and appear to include the registration and inspection.For more information, call the Rental Certification Division:City of Port Huron - Rental Certification Division100 McMorran BoulevardPort Huron, MI 48060Phone: 810-984-2465Fax: 810- 984-5384

Sounds like you would be getting a class D or C- at best.