I think our way of self managing is the optimized way where our place stayed booked, our reviews are extremely positive and we are fairly handsoff and we can leave town no problem. 

CA is going to be extreme and the rest of the states are likely 10-15 years behind those initiatives.

I also have 11 other LTR doors in the city (also do extremely well).If you have a high capacity to save more capital you could do BRRRR's in Detroit.

Its an extremely limited target market.

I don't mean the following to sound discouraging, but I would encourage you to be extremely cautious and conservative before buying a random property in Dayton because someone - a property manager, an agent, the seller of the property, some random person on BP - tells you it's a 'great deal,' and you will 'cash flow.'  

In a similar fashion, if you can imagine how much landscaping and underground infrastructure is in a golf course as compared to the clubhouse, that will give an indication of why an extremely high percentage of the property's value is allocated to the land improvements.

I know 50 percent seems extreme, but considering how high things have come since 2019 with Covid demand etc, I don’t think we need an apocalyptic event to see 50 percent revenue haircuts, just a typical recession will likely do considering far we have risen. it seems like a 30 percent drop in rents will wipe away profit and anything beyond you will have to come out of pocket for assuming in interpretations correctly.if you have to go negative how long can you sustain payments?

The cost of living is extremely low compared to other cities and you can still many many positive cash flowing and 1% deals here.

As I'm relatively new to the space, any advice about Philly REI, or embarking on my first LTR would be extremely helpful.

Some broker may be ok to accept less buying commision but decline.I typically negotiate my buyer commision too but to be extremely honest, only "Asian-born" is typically acceptng less buying agent negotiation, so if they're getting 2.5% and I would get 0.5%, but I mentioned to them I don't ask them to drive me around, I only want disclosure report and I would visit property myself.The problem with very high hefty buyer agent while buyer agent almost do nothing is very real issue in bay area at least, most buyer agent is just trying to force buyer to submit their bid (and their life) with zero contingency and submit 100k above listing LOL LOLthis regulation would change these mentality for sure, the seller could be more greedy by now lol.Now because buyer agent and buyer is determined upfront and then seller would have their own metric, these thing would be interesting.