Quote from @Kadeem Kamal: I’m starting the process of doing a 1031 where I’ll get about 300k to put towards the the next property.

@Michael Plaks comments in this recent post on making sure the person you hire understands real estate sounds really relevant to your situation.  

Then it's just a matter of finding your next flip and rinse/repeat the process.

If you need to obtain it, how difficult will that process be?  

Quote from @Sami Gren: I start by making the original tenant fill out a form requesting to add a new renter, and they pay me a $50 processing fee (I charge a $50 fee any time I make changes to an existing lease). 

It's forever destroyed by the process of securitization.

In a city like Philly, you will face many challenges - you need to learn the market and know the neighborhood and the block and make sure all of your numbers are within reason, you need very reliable contractors, you need a to understand the permit process, you need to be familiar with market expectations. 

I’m in the process of getting my real estate salesperson license to gain access to MLS listings as well.

Work out a fair revenue-sharing model, such as a flat lease or percentage of profits, and consider hiring a property manager for oversight.This post does not create a CPA-Client relationship.

I wanted to offer him about $50K over what is remaining on the mortgage and go through the 60-90 day process to assume the existing mortgage.