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.

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). 

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 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.

What I love about Baselane is that it was built BY real estate investors FOR real estate investors so it's really dialed in to what you're going to need in order to prepare your taxes, keep your books up to date and the more operational aspects of being an REI like tenant vetting and processing rent payments.

Starting with a smaller property or a few fix-and-flip projects can help you build equity, gain credibility with lenders, and better understand the process before scaling up.Securing funding for larger projects can be challenging without prior experience, but options like hard money loans might be worth exploring.

It's the simplest way and walks them through the entire STR process.

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

I'm invested with individuals who have each put much more cash into the deal than I have, and their only compensations is a fixed percent of total profit.