On the plus side, the seller was super motivated and wanted to leave ASAP.

I've been looking for a while for something, and one of the real challenges seems to be people do not have a clear definition of what they are looking for on the software side.

I will probably want to refinance at least 80% of that into something fixed at some point to hedge against rates going up.Monthly costs:* debt service = $441 (141,000 *0.0375/12)* insurance = 78 (quote from Geico)* HOA: 860* taxes: $149 (it's $894 each per year)* repairs: $100 (I'm estimating a little less than with an SFR because with a condo I don't worry about the roof, the hot water heater, landscaping, etc.)total: 1628Monthly income: $2660 (1410+1250)Net: 1032Cap rate = 8.7% (1032*12/141000)Things I didn't include: closing costs, vacancy.

I am confident (will verify with PECO of course) that the property has a street-side gas main so there would not need to be costs associated with extending a main.The property has central air, oil heat and oil hot water. 

I'm looking to have siding installed on my primary residence.  

Neighborhoods get hot , they begin to gentrify. 

You'd be doing well if you could find something even slightly undervalued (which is likely your realistic best case scenario as an outsider coming into a hot sellers market), meaning that it will probably need a little work or updating.Lastly, whether you're able to find something technically below market value at all or not - I'd buy in a stable, desirable area/neighborhood.

Make sure you account for the taxes incurred on the purchase/sale side of things while working as the agent.

In CA hot weather the pool was once a nice feature when water supply was a limit. 

My wife is a chiropractor and I handle the business side of things.