The east side will most likely remain very cheap and poor since the huge influx of people coming in all want to live in the limited English Neighbourhoods. 

That's great, but you've just done THREE things that work against you: you've eliminated yourself from the radar of many buyers, you've limited the marketing on your property, and you've positioned yourself as a TARGET -- because you know who loves FSBO listings?

But the property would never do that because of its design and limitations, so in order to make money, I'd have to either create more space/more bedrooms, or wait for the area to improve.

I, thus far at least, limit my search criteria to the top school districts. 

I am curious to see if the flippers here think it is worth it to make sure everything is done right to avoid wasting time negotiating credits in escrow or if you think you should do what you can to limit expenses?

Limited exclusive parking for business.Sits on a busy metropolitan street (1 lane).Gross bldg sqft: 7800 sqft4 of the units rehabbed with builder grade kitchens, carpets within last 4 years. 2 units will need similar work (~4k/unit).Potential capital expenses: 1 of the flat roofs is 10-15yr old.

Bucks county is the popular area for mobile homes as far as the Philadelphia vicinity goes. as for 'in the 215 city limits' I sincerely doubt that its allowed to just be placed on vacant land even if you're an owner. you'll have to research to be certain though...kudos,Mary

I am trying to limit risk as much as possible.

They tent to limit your investment choices to conventional investments such as stocks and mutual funds.To set up a self-directed Solo 401k you need a specialty provider firm, there are several of us who actively participate on this forum and can help you.

And there are income limits by census tract, with the caveat that (for example) in 90% of Oakland the income limit is "No Income Limit."