Sounds like a pretty cool property, good luck!

I have an STR in Niagara Falls and it does pretty well based on the purchase price. 

There are plenty of deals in Philly on and off-market from wholesalers, who are pretty decent in Philly compared to other places.You will need to get your GC license here and learn the permitting process and necessity here as well.

Pretty incredible how rapid the demand has increased in the past 12 months especially. 

This used to be a pretty rough area overall.Average income levels in a given zip code as well as school districts are good indications of Neighborhood class.

Oxon Hill is pretty rough in parts, some parts are ok though.

She immigrated from Serbia, so maybe that is a cultural difference, but my wife was pretty floored. 

I have a pretty large emergency fund in place for those properties, but I wonder if that capital could be better employed elsewhere (potentially acquire another property).  

I'm actually pretty familiar with this area, I lived in Sterling Heights for about two years.

Quote from @Jay Hinrichs: I think so at least for the ones we read about on BP..I had the same experience total loss on multiple syndication deals So I am feeling pretty good about how we are doing..