Hi @Kyle McCorkelLooking at Palmyra currently, and actually just submitted an offer on a possible STR.

My buy box is C+/B- 2000 sq ft or better, no HOA, no Pool, 2.5 bathrooms or better and plenty of parking. 

There's also plenty of existing assistance out there, from 3.5% FHA homebuyer programs to Section 8 to SSI/VA disability, etc. 

Quote from @Rick Im: Does anyone know of a lender that offers second mortgages on rental properties?

If you really want to get rid of them, sweeten the pot by offering to return their deposit after you verify the unit is empty with no damages. 

The only real advantage to using an FHA loan is to offer only 3.5% down payment, which in my opinion is barely justified as an advantage. 

There are plenty of deals in Philly on and off-market from wholesalers, who are pretty decent in Philly compared to other places.You will need to get your GC license here and learn the permitting process and necessity here as well.

So I'm always able to offer a lower rates and fees and still make a decent living.

That said, it is a great place to invest and there are still plenty of good deals despite the national attention!

One long-shot option is to offer a lease at something like $1,300.