My understanding is that typically, a homeowner must live in the property for at least a year before converting it to a rental.

@Aloysius Martis I just sent you a private message but I live in Wake Forest and work with Apple Realty where we manage around 600 properties. 

I have family that lives in that area, and doesn't think anything of it, but not somewhere I would want to live with my family.

If they're delinquent after only 2 months, they're either facing sudden life changes or you did not properly screen them to begin with.

I live in Fl. where insurance is pretty costly but I am also investing in states where insurance seems less expensive.

You'll need a contact who lives in Philadelphia for a rental license now to put down their contact info for the city.

Gutted the kitchen and dining/living room area.

At that point the unit becomes no longer tenable to rent from an owner perspective as it is actually COSTING me money to have someone live there.

I live in the greater Maryland  area.

2) If you do owner-occupied cashout refi for best rate, you technically have to live in the home for 12 months before renting it out. * Some responders here may suggest not worrying about that and renting it out anyways.