A good RE Attorney and CPA team will be vital to your success. 

The better the comps (very similar properties, very close by, and very recent), the higher your confidence level.Needless to say, getting ARV right is critical...because everything else is based off of it.I recommend seeing if you can get your hands on some old appraisals to better understand how a licensed appraiser determines home values - an appraisal is the gold standard, so why not model your method off theirs?

Regarding SEPTA, there are plans to extend the Norristown High Speed line into KoP in the next 5-10 years.http://www.philly.com/philly/blogs/in-transit/3702...There are also planned improvements to the capacity in Conshy;http://6abc.com/traffic/penndot-septa-plan-to-redu...There have been some back of the napkin ideas about extending rail service out to Phoenixville, but nothing concrete yet.Outside of SEPTA - other improvements include the on-going widening of 202 out to West Chester, and the $45 million Lafayette St extension project in Norristown which will connect Norristown to 276 in an attempt to re-vitalize the town.  

Turnover doesn't have to cost thousands, but good tenants are worth their weight in gold!

Unbelievable gold mine! 

MI is the gold standard.and for pure passive being the bank in performing first trust deeds is about as good of mail box money as you can get.As the herd floods to rentals.. being the bank is looking more attractive for those wishing to let this uber hot market calm a tad.

@Robert Jimenez I know that alot of folks on here would love for you to take all of the money tax free and buy a bunch of "fools gold", I mean OOS REI, but I don't tend to lean that way.

Golder Rule of negotiation: The one with the gold makes the rules.

@Joel Lawrence Thank you, that was pure gold!  

I think it's vital to let everyone and anyone you come across know exactly what you do and what you're looking for in this business, and I do that.