I am just doing the usual introduction of myself here.

Tenants don't usually move around much during the school year and the holidays if they have kids.

Unless there are laws or regulations in Philly I'm unaware of but there are very few CRE who WON'T want or require you to close any kind of pure investment property in an LLC and usually we have a more difficult time finding a lender who allows a borrower to close in an investment property in their personal name- you should have no problem with this.Feel free to PM me to discuss if you like!

It is in a great location, and listed for an unusually low price for this area,  and it didn't even look that bad in the online photos (for a foreclosure), so I figured it must have something unusually negative about it that wasn't readily apparent, like "black mold" or whatever. 

Vacancy rates have killed my returns and I'm currently cash flow negative.

IMO it's usually because the price is to high among other reasons, so I would definitely low ball.

They usually have the connections you need. 

His prices are fair and he usually has an apprentice with him as well.

As we all know inspectors can be your worst enemy, they don't have to be your friend but you want to stay off their immediate radar..Code upgrades are usually only required if you pull permits.. to do upgrades,, but if for instance they do a yearly inspection and find you need GFI outlets in bath and kitchen you'll need to comply and get it taken care of.. along with what else they pick out that needs replacing or repair, once the door is opened up they have the right to write fix it orders until it's in good enough shape to comply with living standards.1. parking for your tenants.. forcing to register cars..

The homes in our area usually rent for $1 per sq foot.Do luxury homes usually rent higher per sq ft than the average?