Coming from SF, I'm used to the notion of paying over the asking price, so it wasn't an automatic no for me.

There is no such thing to the notion above that the appraiser will use 98% of the sales price.

Mom + pop investors such as ourselves may on the margin be more inclined to buy something like that to get yield, but I would argue with the 10-year Treasury at 3%, and blue chip stocks like CAT yielding 2.5%, they headaches that come with being a landlord are not worth the extra 100 basis points - anyone who has been around this game long enough would agree with me on that, I hope.This notion of "staying on the sidelines" being looked down upon is also not something I particularly care for...asset valuations (and life in general) is not black and white.

Credit should always be pulled and utilized to get a holistic view of the payor's situation if the goal is to get them to finish out the terms; this seems like they were just trying to alter its status to "re-performing" as quickly as possible.Also, the notion that foreclosure could be picked back up....how does that make this a performing note?

@Kevin IzquierdoI do agree with the notion of transforming a dining area into a bedroom for increased profits ,but it will not always work.

I'm pretty early on in my FI journey (just began to grasp the notion and possibility of it this past November), but I can definitely see the usefulness of real estate in shortening the time line.

But I just wanted to dissuade the notion that there is systemic landlord abuse in Philly.

However, we both have a responsibility to other members to not present an opinion as fact, nor knowingly allow someone to rely on an opinion - ANY opinion, including my own - when facts can be used in its place.The notion of having different perspectives and interests making a consensus difficult to reach is only true if either of us refuse to have a rational discussion. 

Third and Last, I wouldn't go in with any preconceived notions.

:-(One vital notion is whether or not the House or Senate will keep/flip.