But, what I can tell you is this:If you're looking to attract Section 8 tenants (or cannot lawfully turn them away simply for being Section 8 tenants in your state) you need to be aware of this little gem: Section 8 Fair Market Rents.

Lots of crap tenants and area with poor financing options and occasionally a few gems show up with good tenants in good areas.

Further, if you are planning a deep retrofit on one of theses older gems, plan on extra work - when opening up a 100+ year old wall, you will find something - and build a little more contingency into your budget that normal.  

Kristi's a gem/diamond... thorough and she's down to earth.

A lot of what is on the MLS is overpriced from a cashflow perspective and when I find a rare gem there are numerous above asking price cash offers that overtake mine.I have expanded my search to include wholesale opportunities and found something fabulous in Logan Square that requires a gut rehab.

@Giovanni Rigters, did you find the property management company yet?

Hello @Becky Hiu & @Cherian KoshyI'm new to researching the DSM market and particularly interested in the Drake sub market, so browsing through forums looking for gems, and thought I'd try to revive this years-old post... 

Specifically, in my area there are homes on the older side of town that are very desirable because while they are not on the up and coming side, they are in what I call "little gems" boasting large yards and great neighbors.

So maybe you do have a gem in your hands that others have overlooked. good luck! 

Hi guys, I'm finding - from the wholesaler perspective - that downtown Philly has been picked clean of gems, and what's left behind is vacant shells with loads of code violations, outstanding  property taxes and high water and gas utilities balances.Folks in Fishtown, Brewerytown, Northern Liberties, Fairmount, etc. don't seem motivated because (a) owners there aren't in distress and/or (b) owners know their neighborhood's property prices are appreciating.