I just did a quick search of the area and there appears to be an ample supply of properties with an average rent of approximately $1.10/SF.

My contract with my property managers requires my approval for any expense over $500.

Knowing the average bP buy and hold investor this type of information would be for advanced investors that deal in the back end of real estate not the front end like most who just want to buy a house for under market rehab refi rent or flip. 

Mostly due to the fact my spouse and I agreed on her to have zero involvment in any sort of RE investing (and its our home) I think once you have a good 6-12 months of reserve cash (operating expenses for your own life saved as a back up incase things go bad) save enough liquidity to get the ball rolling on your first invesment.

Real estate investing is forgiving; the average person can still make money even with some big mistakes.

They are in lower socioeconomic communities with higher than average crime rates.

Real estate investing is forgiving; the average person can still make money even with some big mistakes.

Of course, if it is a higher end flip in an expensive area, a professional designer may be necessary.

@Jimmy O'Connor that’s actually really surprising that Grays Ferry’s average is about the same, i honestly didn’t dive deep into the numbers and would of never guessed they’d be so close thanks for relaying that info. i actually had my eye on something in Grays Ferry but was a tad worried about an exit plan as i assumed it wouldn’t appreciate as much as Whitman or Pennsport but looks like i was dead wrong as you mentioned Feinbush has moved into Grays Ferry.

Is it worth it to go through the proper process with the city and run the risk of a huge expense to make this a 3rd unit?