One tip that could help you immensely down the road is that if you plan to at least spend two years in the house you may be able to get around paying capital gains tax.

I was living on the west coast at the time, so their advice on finding a new PM helped immensely, and the new management company went out of their way to secure all my old rents, security deposits, keys, etc., without me having to fly in, and I've been with them ever since.    

If we didn't have all the risk it would be immensely more palatable to my wife.

This will help you both immensely!

Glad to have you here on BP, hope that you enjoy poking around and taking advantage of the immense quantity of knowledge on the site.As far as if your plan is reasonable - you mention that you are barely breaking even, but you're paying down principal of the loan.

r2d2 - you're not getting any kind of a special deal due to an error and it will benefit you immensely to talk to the lender to understand the true terms of your loan.

Very long story short, I've been immensely pleased with their service.

I'm a new investor in the Phoenix area (have yet to make my first deal) and have found this site to be immensely helpful!

The building itself is currently part of the Northwest African American Museum.

That zip code is also on the rougher side of the river.While I think that Turnkey companies can be immensely helpful for out of state investors, I have not seen one in Philly that makes sense to me.