Places such as Kensington can really be block by block but although there are certain blocks that are slightly more attractive in Port Richmond, the main attribute driving the pricing there is the proximity to Fishtown.

Buyer has examined the Premises and is relying solely upon such examination with respect to the condition, character and size of the land, improvements and fixtures, if any, constituting the Premises.At Buyer's own cost and expense, Buyer shall obtain and maintain in full force and effect at all times during the continuance of this Contract: (a) comprehensive liability insurance for bodily injury or death to any person or persons, and property damage insurance, in such amounts as Seller reasonably deems necessary; and (b) fire and extended coverage insurance in an amount sufficient to prevent Seller from being a co-insured under said policy of insurance, but in no event less than the unpaid balance due under this Contract.Seller and Buyer shall both be named as insured parties in the insurance policies required above, as their interests appear, Buyer shall furnish Seller with memorandum copies of such insurance policies upon Seller's execution of this Contract.

If you use a non-recourse mortgage, the IRA is also responsible for paying the mortgage payment each month, as well as for paying a tax called UBIT - Unrelated Business Income Tax - on the net income generated by the property that is attributable to the financing.  

We like houses with structural issues and old homes with lots of character pique our interest as well.

@Josh Braun  thanks for having the forethought courtesy and character to protect the seller in this transaction... these are just SO risky to sellers...

Liz has extensive knowledge in financing, appraising, construction, marketing as well as her greatest attribute is creating systems to maximize time, quality and monetary constraints to ensure efficiencies on all levels.

Why not something that is “Unique”, with “character” and “curb appeal”!

Also, lenders will also have a rule of thumb cost estimate based on the character/story of the building. 

I wouldn't say its necessary that there is a lot of upfront cost when starting in real estate, the cost are better attributed to a per project basis.

They don't manage properties for me, (I live in CA), but I can offer my strongest possible endorsement in terms of character and ethics:  http://www.expressrpm.com/.You should interview them.