Are you set on starting with a larger property, or would you be open to beginning with something smaller to build experience?

Quote from @Roger D Jones: SamEveryone here is providing great points to consider and if you were my son I would say that at 360k this 'dog needs to get put down'. 

I did my usual response asking if they have been to the area before, bringing a dog etc. with no response.

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).

Ideally, this would be just one step in a larger plan to grow into multiple rental units over time.

Consider offloading an underperformer, or a high equity property and getting better, larger or more assets.

Feel free to inquire about their staff qualifications if it's a larger organization.2.

@Kenny BaoTypically, larger properties are sourced through brokers.

For C to B-Larger developments announced nearby-Increased activity in new construction-Building of commercial retail in or near the neighborhood. 

A 4 bedroom would have you competing with larger condos or townhouses with pools, a much lower rate of return.