Any help would be greatly appreciated, I am relatively new to this.I just commented the below on another post, but it pertains here as well"To get real good market insight - maybe call a few local Real Estate Agents and see if they will provide you contact information on the wholesalers they work with.

The phila.gov website says this:InsuranceYou must provide a Certificate of Insurance that includes the minimum amount:General Liability Insurance: $1,000,000 per occurrence

Obviously it depends on size but I have repainted plenty of units for around $1000.00 or less in California to boot.

It depends on your goals and usage.  

I've got a 500 self-storage under contract.My analysis is 46.5% ROI before debt service. 34% ROI after debt service.ROI is dependent largely on financing in my opinion more than the actual financials of the property.

I've provided my information as a landlord so I have nothing to say I guess.

What happens after that will depends on which of you has more reachable assets or, in case neither of you do, the bankruptcy law.  

They will have have some rights ask if the current owner provided a Notice of Sale which would start the clock on eviction timing. 

You or your CPA will need to use Form 1040-X and provide explanations for the IRS as to why you are making these changes.

It all depends on your market area and how many deals you’re willing to analyze to find the right one.