Usually strategic locations suggest good fundamentals which means you are in a neighborhood where you wouldn't have to rely on section 8 tenants.

@Charlie GreenwoodCongrats on breaking the ice and welcome to BP.Ogden may not have the cash flow that the mid-west markets do, but it has better fundamentals.  

That being said, I do believe in the fundamental American ideal of rolling up your sleeves and doing the hard work yourself.

Start with the fundamentals of financial management.

This is why job growth/fundamentals get talked about so often when choosing a market; put yourself where you have the most qualified applications possible for your home.With $100k down and assuming 20%-25% DP, you're looking at homes in the $350k-$450k range, with $400k probably being a break-even, at best.

@David Burton I'm not sure what is meant in your comment about an "optional contract", but your lawyer should understand the use of a straight purchase option contract.Perhaps his objection to the use of a modified P&S contract is that it is fundamentally a bilateral agreement (i.e., both parties are required to perform).A straight purchase option contract, however, is specifically designed to be a unilateral agreement (i.e., only one party -- in this case the seller -- is required to perform). 

Sellers typically  become motivate when they cannot sell the property due to price, defect or simply bad market fundamentals. 

There are certainly neighborhoods in Philadelphia where you can complete the BRRRR with your budget, but you are ignoring the fundamentals that make real estate a lucrative investment.

.--- Tactic 2: Focus on Fundamentals: Zell emphasized cash flow and property performance over speculation.--- Tactic 3: Diversification: He invested across various real estate sectors, reducing risk.2.

Make sure you check out Clarksville, TN as well - we've got a great balance of cash flow and appreciation and are in a fundamentally strong and growing market.