However, after driving around for hours I think there's potential for off-market deals.

In addition, building into  the business model an intentional refinance in a short period of time, you are incurring double the financing costs, which eats away at your equity, and also resets your loan amount to potentially a higher amount if you are rolling in closing costs.

I would love to keep the home for many reasons - potential appreciation, landlord experience, tax benefits. 

It has a strong potential for cash flow.

@Patrick HancockLLC's are not free and there are costs associated with LLC1) Formation costs - potential attorney fees and setup fees with the state2) Registered agent fees if the LLC is not in the state that you operate out of3) Annual fees to keep LLC active4) Bank feesThere are also additional administrative burdens with having so many LLC's.

Is it the potential growth an area is facing?

Does anyone have an excel program or software that they recommend that includes Schedule E data to show you the potential tax savings on various real estate deals? 

@Sonny Sach Yes, you definitely have the potential to benefit from a cost segregation study.

From BP, it seems like Fishtown, Brewery Town, Olde Kensington and areas near Center City hold much potential, so I'm planning to look more into those neighbourhoods for now.

Hello Beth, this is where the learning takes place, the more at-bats you have with this type of potential client gets you prepped and that is how you can convert more sales.