Essentially you are helping out with miscellaneous errands and learning in the process.IMHO, It is very unlikely that you will find an investor to fund your deal if you have never done a rehab and do not have any of your own funds in the deal.I am not trying to rain on your parade but just want to prepare you for some of the challenges of getting started with no funds and no experience.Keep asking questions and you will find great assistance right here.

2 - Going FHA with 3.5% down and essentially repeating scenario 2 but having a permanent cash outflow for PMI.

They all wanted to flip or buy and hold properties in "hot" neighborhoods with good school districts (Pittsburgh neighborhoods Squirrel Hill, Shadyside, Lawrenceville, etc.).

Partial list of Super Lien States (I think there are 20 states now);· Alabama · Alaska· Arizona *· Colorado· Connecticut· District of Columbia· Florida· Massachusetts **· Minnesota· Nevada· New Jersey· New York *· Pennsylvania· Rhode Island· Washington· West Virginia* Takes priority of all liens except first mortgage liens** has priority over all other liens except municipal liens.

I am not sure what the rules are these days on borrowing a down payment (essentially a second mortgage).

It is a prime location adjacent to one of the historic districts that surround the city.

Look for things like good school districts low crime areas etc.

Franklin Township is a great school district just south of there.As for the other property, I don't know the area as well.

All of those places you listed have traditionally been a bit rougher than the Richmond and Sunset district but not as bad as Bay View.

I'm going to replace the dishwasher tomorrow in the rental and afterwards heading to Naval Bagels (awesome)..... on my trek to the district courthouse to file my 6th failure to pay rent form.