Credit utilization is one of the big factors that influences your credit score. 

You could rack up substantial interest but if you can get it totally fixed up and rented out in 6 months and then refi it with a commercial blanket loan, you could potentially walk away with some cash.Have you calc'd out all the repairs and the ARV?

For those who are able to save more than $30k a year or have substantial liquidity (over 200k), being a landlord and especially flipping is a lot of work.

I'm not suggesting that they didnt work hard, but outside influences played a major part in their success.

One drawback of the model is that inexpensive credit and/or long amortizations may result in a proposed MAO that is substantially higher than fair market value.

And then there is this one: "Impressive renovated home offered in Riverside Village with in law apartment AND separate 3/3 apartment for substantial short or long term rental income potential!"

For the Philly Area, you are looking for around C class neighborhoods that draw the influence from the nearby hotter flipping territories while still benefitting from the lower price entry from being surrounded by a rental territory.

I am buying a substantial amount of furniture for the unit and I am wondering if all of these things (beds, sofas, TV, nightstands etc) will be a tax write off?

@Caleb Heimsoth, thank you for sharing your knowledge, about those specific areas, I've been substantial research & the majority of these duplex homes are not in good shape.

I have not used it myself but I have a friend who swears by it and it's helped him substantially.2) Read Financial Freedom by Grant Sabatier.