Projected sale: 950-990k Replacement property budget: 990k - 1.1M Plan: rent out the replacement home until meeting the requirements, then move into it while renting out a portion of the home via short-term rental 

We use DealCheck to underwrite deals and QuickBooks Online for everything related to accounting and budgeting.

My goal would be to start within 1-2 years and get some more experience with the construction process, project management, financing/budgeting, etc.

However, depending on your budget and ambition, there's opportunity everywhere! 

(It’s multi-family but not entirely stabilized.)Rehab Costs: How much should I budget for bringing vacant units to market-ready condition?

lol)Purchase Price: 115k, Rehab 150k, Total all in: 265kExpected Rent: $4,000/month to $4,400I hired a real estate investing coach to help us build out the budgets for these 11 doors. 

We also have a huge budget allowance from the city over the next few years to improve public transportation measures within the city.

Eliminate debt, establish a budget, and save.

Slowly work your way up to bigger purchase price and rehab budgets.

This is where I would focus, as these are the same attributes that attracted those responsible for the larger projects like the Bellweather District you mentioned in your initial post.With your budget I would recommend NW Philadelphia (Germantown and Mount Airy in particular).