Do not focus on cash flow first in Philly or you will end up in a C-/D+.You HAVE to work with an agent who has been in Philly for a long time to have success and who owns properties there.

A bank gets a BPO (Broker's Price Opinion) from their real estate agent.

Or should I take my time and wait for my real estate agent to find me a better deal? 

As an out of state investor I wasn't able to walk the streets, I had to rely on my agent and property manager. 

Yeah Yeah Yeah... since TCJA these federal deductions disappeared, but some states still allow for them to be deducted.

If you don't have enough random deductions to warrant itemization and you simply take the federal standard deduction, then your primary interest doesn't do you any good. 

Hey @Michael Jessie,Something that I haven't seen many people do, but it's so efficient on the disposition side of my business, is to network and connect with active agents in the area.

I have an investor- friendly agent that have homes (not distressed) that isn't on the MLS.

Additionally, it can help maximize renovations and improvements.A Cost Segregation study is an IRS approved federal income tax tool that increases near term cash flow by utilizing shorter recovery periods for depreciation to accelerate return on investment.

@JT StanfordTo start buying real estate in Chicago, as a first-time homebuyers you should your budget, look at loan choices, talk to a loan broker, check out places like Woodlawn and Greater Grand Crossing, and choose a property type (duplex, triplex, or multi-unit), look at move-in ready homes, work with a local real estate agent, and plan for the future.