As I said I would love to simply add on the costs to the tenant but the reality is if there’s half a dozen other apartments on the same block offering the same bedrooms and similar quality for 50 bucks less a month than you can guess who’s going to have a vacancy ?

Analyzing the market is the best thing you can do in Philly, specially in certain neighborhoods where things can change by the block.

We have a local crime-mapping tool that is pretty accurate but just for fun I tried this out... for my 'scariest' property (which isn't very scary, just a little tired) ... this month - zero crimes, this year, zero crimes, last year, zero crimes.I checked before I bought and there were a handful of the usual issues within a mile radius but nothing on my immediate block.

He bought a block of houses for almost nothing, and turned them into law offices.I did a few of my own in West Philly and Overbrook.

Chicago can be block by block, so don't assume that a whole area is good (or bad) based on reputation alone.

I even made a block box around the buried well head 8 inches down so it would be easier access in the future .

I do plan to keep it as a long term rental (it's 4 blocks away from my house), I just don't like that almost all the applicants have pets (only 1 didn't have one) so that being said I would hate for a cat/dog to ruin my brand new hardwood floors with their pee but maybe I'm being to paranoid and maybe it's worth the risk and make it a high end rental and hopefully keep the high rent.I still haven't put in the granite, this was one of the conditions for me to charge $1,700/month, I haven't done a good job on doing my homework about the type of upgrades on the rentals in the area, I do remember seeing a couple that mentioned granite, I definitely need to be sharper and get to know my market real well, I was thinking the best way to do this is to become a "prospective" tenant and go check out all the inventory for rent in the area.

I try and stay west, Old Brooklyn, Parma etc.I would have to agree with Ryan, It amazes me how much the clientele and the rental rates can change within a couple of blocks.

I did something and got blocked from messages.

I know this because I do own other properties a few blocks away.