We just broke ground last week and I will update numbers and more pics as the project comes along but we are really excited to start our new venture and am hoping for the best.

To my understanding properties purchased from a tax sale there is a 2yr period at which time the owner can pay the taxes and take back ownership?

Not only will a complete bathroom update add value to the property, it will also assure you, you have covered anything that can go wrong in the future.

Eric Dedovesh my experience in philly with row homes has been:(1) general / basic cosmetic refresh: <30 days(2) more advanced cosmetic update, maybe some electrical or secondary advanced updates: <60 days(3) full gut and finish basement.. 3-4 months.

There's no statutory time period that you must hold the property after your parents move out. 

He just hasn't updated the rent in a while.

I only focus on vacant houses that have no redemption period after the deed is recorded, and are also title insurance eligible immediately.

Also, do you have enough money stored aside right now, or at least have access to loan funds post-closing for any updates or repairs?

If we have to go to family for a little extra if we can't make it, then we give them a percentage X for, say another 20K and pay them back at the end of the seasoning period on the previous property I just rehabbed and rented. 

I hadn't thought about the holding period for the other property but have been told there is no holding period and I am netting no profit from the sale.