Whether you have acquired multiple properties to sell as a portfolio (package) or whether you have purchased a portfolio of properties: Question is are the properties that make up the portfolio always (or the vast majority of the time) located in the same city or have you seen them located in various locations/cities etc? 

Otherwise, buy using FHA/Conventional/ USDA or even VA again if you entitlement is sufficient and do repairs yourself or pay out of pocket over time.

I would ask to see her bank account to ensure she has a sufficient balance (2-3x rent) but seems like a solid tenant to me. 

Even a conventional rehab loan would be sufficient for what I need. 

While it is going to need a full cosmetic overhaul, the juice is well worth the squeeze as Manayunk is a rapidly appreciating area and will be worth a vast amount in the future.

If someone is renting it out the vast majority of the year it has to be an investment loan and the banks are going to start going after people for this.  

you might have more luck with a local portfolio lender like a credit union, but 2 houses on a single lot is extremely problematic in the vast majority (NOT ALL) cases. 

I've been on CRMLS and it looks like there are a few options but the vast majority seem out of my price range so I wanted to reach out to the community for somebody with more experience in the area.

Based on experience in two vastly different marketplaces I will take properly screened Section 8 tenants over properly screened cash tenants all day long, 6 days a week and twice on Sundays. 

An amendment to the lease is sufficient.