However I have built up a decent portfolio of multi families and single families and wanted to diversify and get my feet wet with some condos..

The goal for me is to just get my feet wet before getting my first rental property possibly in February of 2017. 

I have been absorbing them and have heard numerous episodes that address your very question.   

The approach my investor had was straight talk about the numerous issues he saw, some of which were not mentioned by the GC:  foundation, water damage that may have come from the outside, perhaps from the runoff from the neighboring property, rotted base boards in the corner (water damage) that could mean deeper issues.  

But in commercial real estate your risk is lowered extensively by doing proper analysis of properties and only moving forward with the ones that are numerically "Good Deals."

Of course, getting it under market is better, but to me, that doesn't preclude at-market deals if everything works out numerically.

Cost is $39,900 and will most likely rent for $700/month.I plan to have this house paid off in 18 months, at which point I will begin using the additional cash flow for future deals, savings, etc.The question is at what point, numerically, can I stop putting the normal percentages (i.e. 7.5% for vacancies, 10% for maintenance) away from the rent monthly, or at least reduce the amount to use more of the income for future investments?

I'm full time employed, and I don't own any property, so I'm just starting out. i want to house hacking for 2 to 3 years just to get my feet wet. is there any agent in PA bucks county, berks county, montgomery county.... that can help me find a duplex with little tlc?

It is best to start with one area to get your feet wet, learn the ropes etc, but there's no rule about having to do everything one way.

I will say, I've picked up a solid base of knowledge thanks to numerous helpful podcasts, blogs & books that have been recommended here and elsewhere.