love the idea of using the fact that I want to play a more active role in the community which I do as it is my hometown. 

Get the idea?

The other thing is if you don't know if the market can handle or if it would be a good idea, why are you going to do it in the first place?

So he sends me an email back this morning with the advice his attorney gave him and now I am completely stumped.. meaning I don't even know what to say back or how to reply to what he says here is the exact email he sent me this morning after speaking to his attorney, " Hello,I spoke with my attorney yesterday, and what you have presented would be a good idea if I was in financial trouble, or had a property I was unable to sell.

That's exactly the idea, BUT...Unfortunately out of the 3 cities on the list of 60 there that I know well, the score is wrong for 2 of them.Anaheim (they give it a B, I think it's closer to a F), LA (they give it a F, while I have had no issues as a host).

In my opinion it's best to have some idea of how you will finance when before you contact the owner, so you don't end up leading them on and not being able to follow through. it might be a good idea to go ahead and contact a bunch of banks and look at what your financing options are.

@David Faulkner I love your ideas!

I can't really speak to the private lending scene as I don't have experience with that, but it's not a bad idea to keep researching that avenue.One thing I would be careful about "riding the increase in home values in Philadelphia".

Getting on wholesaler lists is a good idea, but don't expect it to cut out a lot of time to find great deals.

The three touch rule, although a good idea, is not an actual rule or law.