I am not a Philly native so I am in the same boat as you in terms of figuring out the best areas to look for deals/invest in.  

Its far better to take the time in the beginning to plan things out on a project, then just running straight through it and reacting to everything. 

While I realize that the local markets in which I'm invested may react differently from these larger national markets, I'm unable to find a method that permits me to create a leveraged hedge against my local markets (mainly Columbus, OH and Ithaca, NY).  

As a native Angelina, I can tell you that the city of LA has tried to fix up this area a number of times.

Copper can not react well to the corrosiveness of concrete. 

(That is before Closing costs on the flip .)That would be one dumb investment deal  leaving such tight margins with great uncertainty  -- No one really knows how buyers are going to react to repaired  flooded homes vs  prior flood Comps  or homes  in the area that did not flood. 

Once upon a time I worked in sales for the Barnard dealership in Geneva, and I happen to be a Newark native.

Sure, and PROBABLY they'd stay, but I'm telling you, the majority of people will react to a rent increase as a splash of cold water in the face, "Huh, what??

Contaminants in the air in our homes and buildings from household cleaners to hairsprays and everything in between have a tendency to react with and oxidize the copper used in air conditioning coils.

I'm native to Cleveland and can say that Lakewood, Edgewater, West park, Ohio city, Tremont, Brooklyn and old Brooklyn are all great areas to check out on the west side of Cleveland.