I live in Northern VA and as I try to scale my business and get my @David Greene on (Long Distance Real Estate Investing book) I have to stop this nonsense of driving 3 1/2 hours each way just to inspect the progress on my rehabs.

I could see a lot of entry level folks working in those hospitals/universities being forced to go South due to rising rents in West Philly (by 30th Street and beyond) so Grays Ferry would be the natural progression to remain close and have reasonable rents.

From initial analysis it seems that the property worked better as a single family home than a small multifamily.it is truly incredible the diversity that you see in silverlake these days, one morning I was checking on  progress and stopped at Starbucks...

Personally, no late rent payments, steady jobs, scores even with collections over 600?

Generally you will have to be in business for at least 2 years with proof of steady income(be it biweekly or monthly) earned from these investment properties.

How often would you suggest we meet to review our progress/plan?

I showed my parents how it all worked on my first one and they invested another 25k for starting the second while my first was in progress.

Again this is a short time into the rehab so the progress can be detailed.

If building tracks growth then we could see steady growth well beyond 5 years.Now for all the qualifiers.1) Interest rates - if we see a rapid increase in interest rates and we already know that the FED has stated an increase is coming, we could see a huge rush as rates begin to increase and then a big lull while people adjust to the new norm.

I'm right in Fayetteville Arkansas college town and feel there is a lot of growth opportunity as well as steady flow of renters in this area.I'm 26, have a steady job and have been employed consistantly for 10 years.