I went through similar experience when I purchase rentals from a turnkey provider in Indianapolis.

Learn of course, but many of us have purchased properties throughout our career without "iron clad" veils and have done just fine.  

Purchase price: $171,000 Cash invested: $29,000 Small 600 square foot cabin tucked away just outside of the quaint city of Ellijay GA.

Purchase Price: $215,0002.

I have a hard money lender established to cover 80% of the purchase and 100% of the rehab, so my capital partners would be covering:20% of the purchase priceRange of $30,000-$50,000 cost of capital25% of the renovation budget (to kickstart the project while waiting for reimbursements)$25,000 contingency padAny tips would be great, and if you happen to be interested yourself I can send you more details.

Purchase price: $160,000 Cash invested: $35,000 Another 1% single family deal in a transitional area creating long term wealth

Our goal is to purchase 1 property a year for the next 10 years. 

Stay away from Philly as their laws are as tricky as NYC's.I would strongly recommend you purchase something within an hours drive from you so you can learn on the job as a landlord. 

Since purchasing the home, housing market in my area has declined about 20%.

Purchase price will be around $400-450K.