Though, what I have noticed, is with 1 vacancy and especially 2 I am in the red and usually have to use my nest egg to get by for 2-3 months. 

I still strongly suggest the GC--I don't know anything about Philly building codes but when I here big city, it think big red tape and your GC is going to be huge walking through the permit process. 

Right now you're earning 5.14% interest on your money, and you pay income taxes on every bit of that $1800 per year.Meanwhile, I won't even consider a rental property unless it pays me at least 10% cash-on-cash return and a minimum of $250+ in monthly cash flow.

Will they pay $500, and $100 will be paid to me at escrow?

In San Diego it tends to be on the lower side, this is because much of the value of our homes is in the structure and land, things that are not going to benefit from the rapid depreciation.If you would like more elaboration reach out to me at any time!

He has suggested that this may be more of a red flag to the IRS.

Hi,Listening to some of the podcasts and reading the blog, I keep feeling this inner red flag that keeps popping up in me.  

Google SEO test is showing the results of a survey on your website:Google is thinking your website is in the red SEO zone.

Wouldn't recommend that, loss runs will just run your rates up and you will be paying more and instantly show red flags to your new carrier 

One potential red flag : allowing seller to make repairs.