In a city like Philly, you will face many challenges - you need to learn the market and know the neighborhood and the block and make sure all of your numbers are within reason, you need very reliable contractors, you need a to understand the permit process, you need to be familiar with market expectations. 

Challenges?

LTRs with long term conventional financing and standard management aren't really cash flowing anywhere right now. sure, there are lower cost markets that look better on paper, but there are costs associated with those supposedly cheap markets as well - deferred maintenance, more challenging tenant base, higher cost turnovers as a percentage of the rent.2. i wouldn't pick a random market thousands of miles away based solely on statistics or numbers. 

Starting with a smaller property or a few fix-and-flip projects can help you build equity, gain credibility with lenders, and better understand the process before scaling up.Securing funding for larger projects can be challenging without prior experience, but options like hard money loans might be worth exploring.

A potential challenge with a HELOCs is they are based on the current appraised value of your home, not the improved value, so you would need to make sure you have enough accessible equity.

The equity gap can definitely be a challenge but there are still deals out there - typically with homes that were purchased in early 2022. 

I check to see how the dogs behave with people, ideally also with children, with dogs, and with cats.  

It’s a market with its own set of challenges, but it’s also packed with opportunities if you understand the nuances.Happy to help if anyone here has questions about Detroit investing or wants to explore what’s possible in the market.Looking forward to continuing our conversation, Mattin!

So, I am truly coming into this blind... but excited and optimistic and ready for a new challenge/adventure!

Weekdays are particularly challenging.