Sadly it is always overvalued for the locals as well.For context: the same comparable duplex a client purchased for $750k last february 2023 in Lil Havana is now asking $925k.

I'm not saying you're doing this, but people will often make the mistake of looking into the highest priced rental unit and making that the "market rate" but it's often not a true comparable to the subject.

A lot more important compared to newer construction homes where you don't have to deal with certain things when it comes to either of those.Many other nuances but those are just a few that come to mind.

Double-check the ARV by comparing recent comps in the area to make sure the numbers add up.Run your numbers again with all costs (purchase, rehab, holding, and resale) to confirm the margins are solid.

Compared to fixing them both up and paying full taxes as flips.

So, you look at what other comparable properties are renting for to decide when to raise rent and by how much. 3.

You're very under leveraged compared to most investors trying to scale.

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.

We always make different exceptions for long term tenants due to what is considered normal wear and tear from a one year tenant compared to a 5 year, but cleaning isn't typically something we make exceptions for. 

I’m trying to get a feel for how much more income it would generate compared to LTR or MTR.4.