I hate to be the bearer of bad news, but such P/E levels are not sustainable and be considered an expansionary or growth cycle.This does not mean a hard crash is imminent, but it does mean the dollar will be significantly weaker for certain just how it gets there is anyone's guess. 

If they aren't taking good care of something small like this in the first week imagine how they will treat you down the road, I'd fire them and hire someone else. 

First deals have a bad reputation for being a "miserable experience."

Patience can be your best friend and if you attempt to over leverage a property it can come back to hurt you.Some will recommend buying subject 2 where you could take over an existing mortgage that could be at a substantially lower rate - but if the lender finds out and calls the loan that could also be very bad.

It may not be a bad idea to give yourself a few months to network and learn.

The paperwork isn't too bad, at least here in Texas.

Long story short, I am in a bad financial condition as of recently.

Not that that means anything good or bad :-) But if you want high quality genuine coaching about investing in Philly and at a reasonable rate, I can  connect you with a wonderfully savvy, professional investor who does coaching.

We are in the midst of a bad experience with Evernest in CO. 

To dismiss it is every bit is as bad.