I want to thank this groups for their help, support, and encouragement in making this happen for my investors, family, and myself. 

Surround yourselves with like-minded individuals, people who bring out the best in you and support your ambitions. 

I disagree because I and others around me as well have completely disregarded these sayings, rules or whatever you want to call it.It's obviously not achieved overnight but you can raise some serious capital in just one year... think outside the box.The beauty of real estate is exactly the FACT that YOU COULD RETIRE and build your dream life at a very, very, very young age.

@John Clark You are not going to get anywhere close to a 10% unleveraged return on a 1% rule rental.

Either they’re a official property management company which means they’re small and likely not capable of growing since the market is constrained; or they’re an individual who provides super/handyman support, which comes with administrative and people management burdens not worth the time investment.Btw- no offense to any wonderful zainseville property managers out there: the market just doesn’t pass my personal filters to be worth the time investment.Your situation may be different.

If you’re looking for your first single family (SFR) buy and hold property I like to use the 1% rule.

But as somebody in the industry who understands that every state has different rules regarding lien priority and little surprises that only local knowledge would be privy to... 

Thanks for your support. 

I am looking for distressed housing in Philadelphia and I was wondering what is a good rule of thumb when purchasing here. 

Have your new rules in hand upon meeting (as long as they don't contradict with the lease).