I have contacts with a couple of bigger investors in my area that I would like to get in touch with, but I fear I have little to offer for their time.

While current deals may not seem to offer great cash flow, the increasing housing inventory and potential rate cuts next year could improve your prospects.

Another option you may consider if non-conventional financing such as seller financing if you find a motivated seller willing to offer that.

Keep in mind that the exact amount you can cash out will depend on the lender's guidelines and the loan-to-value (LTV) ratio they are willing to offer.

If he would just be doing the rehab work on the house (I am the money, property finder, everything else in the process) would you think it would be OK to offer a 60/40 split or 55/45?

If 2x, 3x, 10x the # of burger trucks flood onto a given street to offer burgers to the people, to meet demand 1:1 it has an economic effect of competion driving prices to REMOVE any bloat, any false margins, right.

If you know that going into the deal, you will know to offer a little less on the home. 

I agree with all of this HOWEVER I will say, if you have a unique product to offer to the market, you can attract even the highest quality tenants in the rougher areas, especially if they are secure properties that are close to downtown.

You can express your willingness to offer a new lease to the more responsible tenant, but it's important to avoid getting involved in their personal issues.

Whether you're looking for single-family homes, multifamily properties, or commercial spaces, Philadelphia's real estate market has something to offer for investors focused on building equity and cash flow over the long term.