Save extra funds, find a good, quick locksmith to re-key locks asap, start a relationship with a real estate, owner-tenant lawyer who can manage the legal situations, understand local laws and what would and would not apply in varied cases, have a stable of vendors and contractors who can do any and all work needed to return the property to desired condition, start a folder with necessary paperwork for court filings, connect with property managers or other owners who can help with information, be prepared to document EVERYTHING, etc. 

@Jason Cobb  The rents in Philly do vary greatly depending on the area.

If you're a new investor with limited funds, you're best bet is to find the lower price point counties in the DC area and focus there- Prince George's County, Waldorf, Anne Arundel, Montgomery (certain areas), Baltimore, etc (really most of Southern MD is pretty decent)Trying to go into the District itself as a new investor can certainly be done, but a) prices are going to be higher than surrounding areas so for the same amount of money to spend you're going to do less houses, and b) it's harder to comp properties- DC property values can often vary block by block, proximity to metro station matters, finishes matter, whether or not they've 'dug out' the basement to increase ceiling height matters, the exterior style of property- federal, victorian, etc matters.  

People, at the bottom, before you can post on this, you disclose if you have any relationship with the material, endorsing anything should be at least stating in your post if you are a student or to what degree of knowledge/experience you might be.

I know this is an old thread, but I am interested in seeing if property tax rates vary in a lot of states or just mine.

Let's not turn this into a pit bull debate and politics as it has been discussed at length in the past.For every statistic that someone can show them as lovable and huggable then another can show the exact opposite.I have had varying animals all my life so know a lot about them.

I'm in New Jersey, and I would like something that could be used in NJ and PA (if they happen to vary, in terms, from state to state).  

If the field you are working in is directly related to the degree you will obtain at graduation then I believe they will allow one year at the same job.

I went to school got a degree.

Everyone says they want a clean place, but their definition of clean varies considerably.