Would need to know about locations of your buildings and current rents to see if there is anything that can be done now to get numbers a bit better.

At over 4000 sq ft, I'm surprised you won't be able to list for a much higher number to net a decent profit, but without knowing more specifics on the house and location, I am speculating here. 

If you are going to start BRRRRing in Philly assemble a team of real estate professionals who can help you with market analysis, location, title and financing.

Hello,I bought a duplex in Pensacola $75,000 under appraised value, in an amazing location.

Would it generally be a location that tends to have a higher cost of living? 

Our group works with a lot of investor buyers in both locations you mentioned.  

I am located in western Wisconsin. 

I could argue that, for the most of us 10 to 20mm is a good stopping point unless you want super yachts, jets, huge mansions or many personal homes in different locations, etc, etc. which most of us will never get to., or need.

Go find some of the best older neighborhoods for location, schools, etc.  

I agree with your approach in aiming for better locations, seems that texas (dallas /FT worth) fits the bill.