State laws and MLS rules vary widely on a number of topics.

Philadelphia price ranges can be very wide.

Account ClosedYour question is going to vary widely based on the size of the space, and your location and exactly what needs to be done.  

This seems like a wide range but if it's an older building we error on the high side. 

I find them to be adequate, widely used/accepted and enforceable.  

That space is wide open for someone to capture the entire market and own it so you should really consider it.

You must intend to occupy the home as your primary residence (over half the year) within 60 days of closing for an unspecified time (1-2 years is widely quoted).I advice my VA clients to buy a primary, house hack, refi into conventional then buy another primary, converting the former into an STR. rinse/repeat.

I think this varies too widely to assume they would always balance out - hence why you need reserves - because operation is not normal.

I was making offers based on this widely taught rehab model, but I’m in Southern California and the rehab estimates are no where near what all those videos suggest so the properties weren’t actually “deals”. 

@Michelle Paulsen yes I've invested in, and currently own in, both cities.The market is crazy out there - multiple offers above asking price, and people waiving inspections, are unfortunately getting very common, especially for multifamilies.It's hard to speak in generalities about market-wide or city-wide cash on cash returns.