An additional benefit of a detailed engineering-based Cost Segregation Study is that it can increase potential insurance premium savings as well as provide support for the property tax appeals process.

What can I expect for timeline, potential issues, rough costs? 

A lot of investors start with something that's turnkey with value-add potential.

You are walking into a potential situation that can break your heart, break your bank account, or break your will to ever try this again...Maybe if your lucky, all 3https://phillysheriff.com/property-listing/ Thank you for the information!

So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

As interest rates rise, they naturally cut into potential cash flow on a property.

I'll only add when talking to brokers have a "buy box" defined and research commercial deals to understand it as best you can before you have your first meeting or your broker contact will likely consider you to be a low-chance buyer and not take you seriously.

I am researching my first deal in town (a foreclosure), and hoping to slowly but surely acquire properties for cash flow and retirement security. 

Since the real estate is part of the transaction you can't do the 1031 exchange.You could consider an installment sale, to potentially spread the tax liability over several years.

I’ll have to research cross-collateralized loans too - I wasn’t aware anyone was doing that but it makes sense.