These neighborhoods seem to fit my goals, especially with their lower crime rates and potential for growth.Do you think these are solid options, or would you recommend other neighborhoods in the Philadelphia area based on the price range and focus on appreciation?

Find a private lender who would give you that debt for a lower amount.

It's also nice that they have their own recommended insurer, those rates are much lower then what I would pay up in the northeast. 

Your starting depreciable basis should have been the LOWER of what you paid or the FMV in 2010 when you converted it to a condo. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

In lower-value areas like Sylmar, market values max out around $3.28 million, which results in a loss.The key takeaway?

Seller financed loans - See #2 above as typically seller financed have lower rates, longer terms and higher LTV.

If you tie the bonus to a new lease, a bad employee will lower standards to find tenants quickly.

This could reduce your help lower your taxable income if the investment aligns with your lifestyle goals.

@Iris Olivas Most local banks/credit unions can do this deal with lower fees and potentially rates than brokers.