I live in Fl. where insurance is pretty costly but I am also investing in states where insurance seems less expensive.

You'll need a contact who lives in Philadelphia for a rental license now to put down their contact info for the city.

If you use the extra $100k of cash you receive to just...live on, buy a jetski, take a trip to Disney, (any personal use) the interest for that portion of the loan will not be deductible. 

Let them know how much you enjoy living in the home and mention that you’re planning to buy your own property in 2025.

Quote from @Dereck Olson: Hi Nicholas,  Just a thought from the possible tenant's perspective, but filling out a prequalification form and/or providing personal information before they have even seen a place and know if they will be interested in living in the property might be a bit too much to ask. 

A couple of years ago, I worked with an investor who never updated the contact information for the loan and the Bank call the seller (ex-wife), that day she was mad at her ex-husband and told the bank her ex allowed someone to steal their property from them and they got no money, she was kicked out of her house and there were strange people living there.This could all have been avoided if the investor did this process correct.Get educated, also I do not know your attorney but not many attorneys have the knowledge to do this process correctly. 

I live in Charlotte and would prefer a multi-family investment property that is within a 3-4 hour drive so I'm considering areas that include: Charlotte, Raleigh / Research Triangle, Charleston, and Atlanta.

Years ago I had posted about Shared living.

It has ample basement living space, that the tenant uses as a third bedroom.

I live in the greater Maryland  area.