(I'm already seeing this in the towns I am currently invested)I know this hasn't really answered your question but I've been doing this for almost 5 years and it's working out well for me.

There are plenty of deals in Philly on and off-market from wholesalers, who are pretty decent in Philly compared to other places.You will need to get your GC license here and learn the permitting process and necessity here as well.

Take into consideration that when the person you gifted the property to will have special tax considerations as well 

If you can get all the bedbug containing furniture out of the place and it will sit for awhile (or let it sit while the other repairs are done) you may be able to avoid some cost, but if you want to get a paying tenant in sooner rather than later you will want to bite the bullet and get it well done.

I have known Brian for many years.

I am in the Port Saint Lucie, Fl market and i have an airbnb that is doing quite well from an income perspective. 

Well since your an attorney and have taken the lead..

My partner and I have a couple units we manage as well in Washington DC.

TBH ink of all the large builders who could take advantage of this as well as people buying homes and being fraudulent with saying they are owner occupied.I am not a fan if tinkering with the real estate market, let it take its natural course which is slow moving but like anything it always moves to a normi also don't view it as interest rate jail I view it as interest rate heaven because those who have the low rates are in utopia compared to others and they don't want to leave a good thing. 

There are Bigger Pocket events you could look into as well.