I have a lot of colleagues with multis in Philly and all are doing well because of low taxes and high reliability, but it has its challenges.

Originally posted by @Duane Alexander:Can resimpli replace propstream to look up property information like remaining mortgage, tax information, liens, mls history, mortgage transaction history, etc?

That's how you gain the information you need to AVOID MISTAKES. 

I have gutted to the studs the last 5 properties I have bought from tax/foreclosure sales in this county and this one is not far from a full rehab. 

It's also easier to figure out all of the pro's and con's a head of time to avoid lost time and money.  

A successful rental property should offer positive cash flow, meaning your rental income should exceed your monthly expenses (mortgage, taxes, insurance, maintenance, etc.).To find the right tenants, ensure the property is priced competitively within the local rental market.

>>For purposes of taxes, consult with a CPA to confirm this would work for your situation, but you could have the LLC be treated as a "disregarded entity" and thus, even if you and your wife are members, any profits/losses would "disregard" the LLC and go directly on your personal returns. 

It was recently purchased in December 2024, which aligns with the timing she mentioned on the phone.However, despite all the communication being professional, I’ve had trouble finding additional information about their business online.I’m wondering if I’m being overly cautious, but I want to make sure everything is legitimate and avoid any potential scams.

You're giving up some good tax benefits since you're in the tier of taking itemized deductions.

Yes we avoid custom work to help keep cost down.