Further enhancements included constructing a back deck and repainting the interior to modernize and enhance the home’s appeal.

You have to get someone who is familiar with them and would want one.Here is a pic of this style of construction.

He said that typically in flip deals its around 30-40% down but if construction was included it would be about 30%. 

Philly has a ton of opportunity, but since you are new to the area, I would suggest waiting six months before you buy anything there so you can really understand the block construction of the area.

There's no step by step guide but there are key things : Learn: RE strategies, what interests you, what do people in your area need.Connect: find a mentor, accountability group and be around those doing what you want to do.Help: solve problems- do people need dealflow, property mgmt, construction expertise, etc. 

note if we sell the primary residence, it is very likely we will not need mortgages to buy smaller rentals as we would use that mostly.Though I take your point on keeping it. our house was a new construction (3 years old) though so possibly low maintenance risk to keep for a rental. 

When running your numbers, if purchasing a home that isn't new construction and less than $1MM, I would estimate 1% - 1.2% of the purchase price as your annual insurance premium. 

See if they will do construction loans.  

I'm a real estate investor specializing in STR properties, a realtor, and I own a construction company.

I'm an investor (STR properties), realtor, and own a construction company near Texas A&M in the Bryan / CS area but travel to the 903 frequently to visit family.