None of this "90% Loan to Cost" or whatever stuff. 

We stay way out in front of our maintenance and yes it pushes up our costs but our NOI is 30% higher than if we were all TOH.  

Good turnkey providers should be able to minimize vacancy periods and reduce turnover costs.

If rehab is needed, you can either use conventional rehab loan to finance your rehab costs or open a line of credit on a property that you may have then use that line of credit to fund your rehab expenses.

@James E.Hi James,I'm not a wholesaler... just an investor who has dealt with wholesale deals.My broad perspective is that wholesaling is a marketing job - where the wholesaler (on the surface) is trying to help a seller, but ultimately is trying to do that in a way that ends up costing the seller more money than it should have, had the seller taken more traditional means to achieve that sale.  

I would like to legalize it and was wondering if anyone would be able to give me a rough estimate of the cost to convert the property to a 3 family.It does not have a sprinkler system. 

The house hack cash flow should more than pay all the costs and throw off profits.  

I will have access to ~1M in cash for down payment and closing costs (I would also have reserves, separate from this capital).

They suggested while the property is vacant it is easier to repair, which costs 10-15k. 

Which is the best, relatively safe Philly neighborhood for finding a potentially cash-flowing small MF (3 to 4 units)?