There are numerous investing opportunities in Scottsdale including single family homes, condos, townhouses, as well as pockets of 2-4 unit multis in prime areas.

That just happens to be a zip code that I like.   60622 includes Ukrainian Village, a great area.

I would additionally have enough to cover 6 months of mortgage payments (including tax and insurance).   

Pretty sure most policies would include loss of use to the renter...

I calculated the cap rate by adding all the monthly income and subtracting it by all the monthly expenses (not including mortgage payment).

This maybe included with your current proeprty mgmt, but could cost quite a bit if that is all you are hiring them for at the end of the lease. 

., Are you searching for your first deal in Philadelphia county or does your search also include the surrounding counties?

You always need to ask that security deposit be included.

Thx we checked and yes wrongful eviction is included in the plan.  

From a legal perspective, there are multiple benefits but primarily forming an LLC includes having multiple partners, versus just one sole proprietor, and you can shelter yourself from possible liability if anything were to happen on the property.