The area does not have explicit rules on STRs so its a gamble with that strategy.

Buyers if you want an extra advantage over other buyers call your favorite Mortgage Banker and ask for a "Fully Underwritten" approval not just a Pre-approval.

The Real Estate Game by William Poorvu is one of my favorites. 

Class E (war zone) is my favorite.

My favorite is when the reps and warrants state that the loans are being sold as is and the seller will not take any responsibility or guarantee that the loans are enforceable or not, even if they were the sole cause of such  unenforceability.

One of my favorite quotes on my board is "It's lonely at the top!" 

Overall I think BP is a very well run company and one of my favorite platforms.#1 - Cash Flow Investing - is for novice investors. 

Don't gamble. 

Its a gamble to go the permit route or not in Philly and absolutely matters the neighborhood/your neighbors as they are usually the folks that will call L&I on you OR if your property is near other construction sites where inspectors would be traveling to/from. 

Focusing just on appreciation causes people to take on negative cashflow situations, gambling that the market will eventually save them before they run out of cash.