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. 

Knowing your state laws - critical. 

Dan makes a great point - you want to be clear of any areas that are working on limiting the ability to rent OR cap your rental potential.

You're right to think critically about this.

It was in rough condition, which limited competition and made it a strong candidate for the BRRRR method.Negotiation: After analyzing comps and repair costs, I negotiated a $420,000 purchase price, which was below the market value for similar properties in the area.

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

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. 

I would limit the open calendar days on VRBO to maybe only 30 or so out so as to not cause any/many issues (having too many dates show as booked) when I subsequently go live on Airbnb.

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.

While metrics like square footage or price per square foot matter, the number of bedrooms, bathrooms, and overall location are often more critical for attracting tenants.Engaging a property manager early on can save you from costly mistakes and help you invest in properties that perform well in the rental market.