The neighborhood definitely is one of the more challenging to understand with more nuance than most Philly neighborhoods but those who understand the neighborhood have also faired well.  

This doesn’t necessarily make it a bad investment, but you should be prepared for the challenges that can come with managing properties in this type of area.

But with that comes some challenges in getting through their record keeping to get to an actual and true P/L to start evaluating the CAP. 

Just be prepared for the added challenges that come with the territory.Happy to answer any specific questions you might have!

Rents probably decent, but maybe some occupancy or payment/collection challenges I would expect. 

Even if you find a 10% down program, having reserves will still improve your chances of approval.While the market is a bit more challenging for jumbo loans with lower down payments right now, it’s definitely worth exploring different lenders.

Coming in without a team built on 50+ units will be a big challenge.

You are looking at it correctly, as others mentioned trying to avoid a PG is challenging, especially when starting out. 

Watch his 40 day challenge. 

This is a challenging one because it isn't like you are getting more rent once these renovations are done and depending on what you are doing, you would then have tenants that are fine with the way things are but start doing wear and tear.Here is how I would prioritize the work:1.