A lot of clients I work with in NY invest here because it's one of the hottest real estate markets in the US and has some of the best macroeconomics - population growth, job growth, and companies moving and developing here.

For every angry client we have many more that are doing just fine!

I recently had a client purchase a duplex in Forest Park here in the western suburbs with this exact plan in mind.

I'd be looking at multiple structures. we try to build below the average new build cost in our market in Columbus Ohio which is 515,000 last year and we target land 40-50k and urban core adjacent where we get higher price per square foot. we build for clients with margin around $190 a sq ft depending on multi or single. we can get that down in our triplex it's a little higher on our single family homes because of garages and limited economies of scale. hope that helps. idk Philly but if you show me the area and styles of homes I can give you some more insights. 

A 1031 exchange doesn’t apply, but funding through a self-directed IRA can defer taxes, though profits from debt financing may trigger UBIT.To reduce taxes, consider forming an LLC for better expense deductions, offsetting gains with investment losses, or holding the property for 12+ months to qualify for lower long-term capital gains rates.This post does not create a CPA-Client relationship.

My client recently purchased a 3/2 single family house for $160k that was near turnkey and already rented at $1900/month and in a very desirable residential neighborhood!

The client can always use their own funds to replace debt. 

I work at Proper Realty Group in Malden and many clients of ours have section 8

Usually I don't like to buy or recommend to my clients to buy where there is a lot of new constructions going on that don't have a cap on how many properties they sell to investors.

Is it realistic to ask for and expect to get at least 2 landlord references and 2 tenant references (current clients) if I am a " small time" landlord with one property, not multiple units?