so long as they are familiar with philly (licensed in PA and knowledgeable in Philly housing market as well as being experienced in hud regulations) you should be o.k.Kudos,Mary

I lived across the street from there and experienced massive appreciation in 2015 ($50k).  

Laws can be different in each state.Now is the time to seek advice from an experienced real estate attorney in your area to prevent any serious mistakes you might make dealing with these people.

It's not hard to team up with a contractor and get them to give you some ball park figures on certain repairs.3.

Let me know if you need any help teaming up with a rockstar loan officer with great rates down there.Best of luck!

Really curious about what experienced commercial investors on BP can comment on this. 

Have a mentor double check your work and ask experience property managers what they think they would be able to rent something at. 2) Build a team on the ground.

Yes, I met up with an experienced local agent today and decided not to purchase this property.

On just about any other deal we like to buy with 10-12 yr non-recourse fnma debt in order to have the flexibility to ride out a downturn as all the very experienced people are always telling me.  

Should be able to find some properties that rent for 2% of price out there.Benefit of out-of-state investing is that I'm never tempted to fly to NY to try to fix a toilet, it forces you to build a scaleable business with a solid team.