Sponsor quality far surpasses the "deal", assuming a qualifying criteria for a "good sponsor" is that they don't buy crappy real estate deals to begin with.Having said that, if a great sponsor is offering a deal you don't like for some reason, don't invest in it--just wait for the next one. 

That could mean poor tenant quality, which could lead to them not paying or eviction.

If you flip your flooring upgrades and appliances will probably need to be of higher quality vs a rental.

Course of prior conduct may be used to determine what constituted acceptable quality.

Professional staging, virtual tours, and high-quality photos can help them envision how the space fits their lifestyle, whether it’s for entertaining, work, or family.To overcome the “biggest house in the neighborhood” concern, shift the focus to its uniqueness and lifestyle potential.

I find pricing tools lumping me in with all 2/2 regardless of quality of finishes and location (I’m beachfront others are not).

Not that that means anything good or bad :-) But if you want high quality genuine coaching about investing in Philly and at a reasonable rate, I can  connect you with a wonderfully savvy, professional investor who does coaching.

------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The best way to estimate expenses is experience and knowledge of your specific asset type and market.For vacancy, that will depend on your market and the quality/desirability of your type of unit.

Joe Asamoah who focuses on quality homes and solid tenants.