You have to find the areas that are either zoned for Hotel and Resort or have NUCs (non-conforming use) certificates. 

You must already know now you get 100% when you use your DD-214/certificate of eligibility! 

The foreclosure would be finished well before I could even begin to start rehab, obtain permits, get a certificate of occupancy and find a tenant.

@Maynhia Stott Many states that sell tax lien certificates/liens allow counties to sell OTC - but it is up to the county to choose to do so.

I also am starting a 4-class certificate program in REI.

The great thing about living in a high cost of living area is that your salary / wages are hopefully also very high.If you are a new college grad, I would focus the next 1-3 years on increasing your salary as much as possible(gain new skills, new certifications, change employers, etc).Once you make more money, you can easily get in a position to buy a property on a more frequent basis.Best of luck!

If you rent that out without a true Certificate of Occupancy, a tenant can sue you for ALL of their rent money back. 

The townhouse we are looking at has a Certificate of No Harassment in place, open violations and a vacate order.

The Phila.gov website says this is needed to get your wholesaler license:InsuranceYou must provide a Certificate of Insurance that includes the minimum amount:General Liability Insurance: $1,000,000 per occurrence

It would be wise for a buyer to feel confident that the building is in good structural condition, that it has a certificate of occupancy.