Everytime I have looked into new construction for rent, the numbers just don't make sense unless you have scale and high end.

In fact, the contractor who installed the fence is still trying to get paid and the agent has been giving them the run around (which makes no sense, it's not like it is coming out of her pocket) and even went on vacation before sending them the check.

Steve, Thank you for your response you are partially right in the sense that my research was not specific to Philadelphia and that is exactly what I am trying to figure out at the moment.

When I asked for clarification from my PM they said this clause only protects against something the tenant can control, which makes no sense to me since many pests aren’t preventable, they just happen.  

But still looking for something that makes sense.  

You're in the Bay Area, have great income and enough money for a down payment, but none of the deals locally make sense because the numbers simply don't work on paper.You're a first time investor, so you aren't willing to take too big of a risk... that often rules out investing too far outside of state.

This is where you make the most money investing to rent. 3 bedroom houses should rent for a minimum of $750 anywhere in the city of Birmingham so there's no sense in spending $100k+ to get a $1,000 tenant.

In a general sense, could that still work for me do you think?

I hope this makes sense.

The cash you received in 1031 would still be nontaxable under sec 121 ( 2 out 5 rule) Also, if you think the cash flow in this house makes sense, dont sell it to tap into the appreciation.