If it's a really nice area, or a popular area, or whatever...those typically don't give that kind of cash flow.

Condos were also starting to get popular because those were getting ridiculously cheap too.

But keep in mind that if that Company can get them under Contract for those prices, you can bet that they don't REALLY think they are foregoing $70k of profit for just $25k rehab.

Long term, the whole downtown will be massively changed over the next decade so it could be a good long-term bet.

Lifestyle: Yes, urban living is popular.

@Phyllis JayWelcome to the vibrant BP community, where you will find like minded individuals committed to REI and also helping others succeed.Your time on this social media site will be well spent.You have taken the 1st step by announcing your readiness and commitment to embark on a REI career.Whether you pursue, wholesale, rehab & fIip or buy and hold it's up to you to decide.Below, are three links from the most popular REI niches, from which you can pick one or all.https://www.biggerpockets.com/renewsblog/2015/01/31/ultimate-beginners-guide-real-estate-wholesaling-2/ (Ultimate beginners guide to wholesaling)http://www.biggerpockets.com/renewsblog/2014/01/07/flipping-houses/ (step by step guide to flips)http://www.biggerpockets.com/renewsblog/2013/02/22/buying-rental-property/ (how to buy a rental property)The bottom line is that you must take action to start.

@Steve Babiak probably knows PA tax requirements.I'll bet it is the full purchase price as amounts financed are irrelevant to a sale price.....I know, your hopes crushed again. 

I'm thinking that finding a reliable, trustworthy contractor to partner up with would be the best bet since I won't be doing the majority of the rehab work myself.

Yes, there are occasionally large judgments, but they are rarer than popular culture would have you believe. 

@Orlando Spencer - I bet it is!