It's a good practice to overestimate costs and underestimate after-repair values (ARV) to keep your expectations realistic.

Connecting with other local investors can help you learn the ropes faster and avoid common pitfalls.If you have any specific questions—whether it’s about neighborhoods, property types, or what to expect—I’d be happy to help.

In a city like Philly, you will face many challenges - you need to learn the market and know the neighborhood and the block and make sure all of your numbers are within reason, you need very reliable contractors, you need a to understand the permit process, you need to be familiar with market expectations. 

I tried calculating value based on NOI and cap rate (see below) but I'm new to this and the value seems to come out lower than I would expect.

@Serge Hounkponou Recommend you first figure out the property Class you want to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Seemed legit and expecting to hear back from them today on some proposals for a project I am working on. 

@Venka Pulla It’s frustrating when a property manager isn’t meeting expectations, but transitioning to a new property manager is typically straightforward if you follow a few steps:Review the Management Agreement: Carefully read your current Property Management Agreement (PMA) to understand the termination process, including any required notice period.

I'd expect prices to continue to appreciate, so the longer you delay, the more expensive things may be. 

Originally posted by Dave T: Originally posted by Steven Hamilton II:@Tony Bc , Since you live in Missouri and both you and your wife are members of the LLC, YOU MUST file a partnership return.

We are t protected at renewal time.