Marie Poe - Users do not have to pay to post in our Q&A areas, however, to participate in our dealmaking and marketplace forum areas, a PRO account is required.You can certainly connect with people via PM and off the boards, but any kind of ads or solicitations made ON THE FORUMS requires a PRO or PRO Basic account.BiggerPockets is a community, but is not inexpensive to run.

After mortage/taxes/insurance, $200 in expenses (for garbage and common electric charges), and $300 a month for vacancy and repairs (a little low but borrowed for closing costs so wanna pay back loan as soon as possible) the monthly cash flow will be about $500.

That said, you will likely find that your foundation can be repaired easily if not inexpensively.

If you are just beginning in real estate and funds are not plentiful, try house-hacking.....it's the easiest and most inexpensive way to become an instant landlord.If you get stuck, reach out! 

I usually target 3% growth in expenses. 

Of course, these rules-of-thumb do not apply to every property eg. new ones, and/or ones located in expensive neighborhoods.But for older properties, in middling neighborhoods, they can be surprisingly useful.

Philadelphia is a great diverse real estate market for the cash flow, appreciation and or flip of a property.A couple things to consider;* Pick your neighborhoods and understand there values, rents, taxes (Each Neighborhood Varies in Philadelphia)* Attend a CDC or RCO meeting in the preferred neighborhoods you are considering (They are monthly - Both the Main Meeting and Zoning Meeting) See what is getting approved or turned down in development* Attend your Local REIA (Diversified Investors Group is the largest in the immediate area) They offer sub group meetings, education , workshops etc. at a very inexpensive price.* Also, consider obtaining your RE license - Access is key to your success.

In nicer areas an inexpensive house can have taxes easily in excess of $10k.  

if you're renting for 1,000, then assume 500/month in expenses..that leaves 500 for payment and your monthly cashflow...a payment on 75,000 at 6.3% over 20 years is 550.38.

I also lock exterior A/C circuit boxes and label the units, cage and circuit box with A/C specific alarm stickers that I had made up.I will frequently install an inexpensive alarm system (not monitored) which gives me peace of mind between tenants and acts as a selling point when showing the units.I've doubled up on door stops (to prevent doorknobs from going into walls).