Sales were only 850K/Y, but there were limited relocation options, a dollar general down the street (this was for a Family Dollar) and the town was of size where it seemed both a DG and FD could be sustained. 

Look for some of those to go in as an LP (limited partner) and learn and grow your knowledge, skills and investment money so you'll be ready for the next accredited deal. 

(Don’t wait—spots are limited, and the challenge starts January 30th!)

Quote from @Eric James: This is why I build outside city limits.

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. 

There are a very limited and reliable few of lenders that do true DSCR 2nds.

If you have a credit card with a high limit or a line of credit on the existing duplex that might give you some wiggle room.

The appeal of student housing to rental investors lies in its ability to provide a steady income stream, especially in areas with high enrollment growth and limited new construction.Given your experience and the quality of your properties, you should find a receptive market among rental investors.

However, prices for a comparable 5-bedroom home in Washington are significantly higher, likely around $1.5M or more, which would mean taking on a new 30-year mortgage with 6+% interest rate and limiting new investment opportunities.2.

I limited each season to 20 people.