Any insight would be greatly appreciated! 

The added benefit is the equity you have now created in your personal residence that can avoid capital gains taxes if you live there for at least two years. 

That's a 100% return plus any gains in the stock market.

Interested to hear insights of those currently doing this in these three cities.

Consulting with a real estate investment advisor or a financial planner who understands the BRRRR method and your local market conditions can also provide personalized insights and help you make an informed decision.

If the numbers make sense and you can gain their trust, the deal will work out!

4) Seek to help them solve their problem5) ask them what they need $ to get out of the house, and evaluate if you think that's possibleI'm learning to ask a tremendous amount of questions and am finding that I can keep the conversations going far longer than me offering my "insight", I'd encourage you to door knock these people and have a question based conversation so you can learn as much as you can about the property and make your decision on your course of action after that!  

I wanted to make sure it was an unreasonable loss of the huge (to me) cash flow I had gained by working over 3,000 hours a year in the construction sphere.

get an umbrella policy to protect yourself, see if you need a rental license in your municipality. an LLC is only for insulating you for liability and anonymity, it will not save you on taxes and you really dont need to worry about it with one property imo . you cant protect a single property from lawsuit, insurance is what covers you just make sure you’re up to code. insurance will always look for a way to get out of covering an incident.if you register, you’ll want to report the income. if you make less than expected after deducting costs, then it’s time to raise rent. you wont be able to reduce more to reduce other income streams since you're not a full time real estate investorin the future if you ever sell, because it’s a rental now you will owe capital gains on the property. philly is probably like ohio and not california with it’s YoY growth being tied to inflation. with that said your profit is mainly going to be the equity you build from your tenant paying your mortgage. the money earned monthly should be saved as youre doing in case you have a capex repair/replacement come in like HVAC, roofing, etci advise you pay for an hour to speak to a CPA to better your options.good luck

Whether you're a seasoned real estate investor or just starting out, fire some questions at me and let me provide you with some insight that I'm hoping will be helpful to you in your investing journey!