It worked out ok for us.I did some landscaping which I liked when I lived there, but it was too high maintenance when we moved and I managed it as a landlord.I did some "home improvements" because we were excited about our first house, which in retrospect did not help might have hurt the rentability.One year after we moved to a house, my wife got a job offer out of the area and we moved.

The larger landlords have a lot less movement possibility (often times a take it or leave it) versus the small town landlord. 

Maybe then you will be in a more improved financial state. 

Consider a sliding scale, 20% for 2 years, 18% years 3, 4 and 5, this is a "front end load" that makes up for the lower profits in the beginning but as you improve the property and cash flow they can still make more at a lower rate in profit shares. 

I own a house in Penn state and was threatened with a lien on my house if I did not show signs of making immediate improvement but that is in Pittsburgh so I am asking about Philly.

Better sound proofing is also something I will be improving during this rehab.  

Hello All,This is just a second try from the initial proof read under the post "Letter to Absentee Owner: Proof Read"Tell me whether it looks better than the last and everything and anything you notice that I SHOULD improve about the message (format or content).

This is not a good deal, but I do think one could improve the NOI by reducing the electrical utility expense and make the tenants pay for that. 

Real, substantial success versus using say a 10 day inspection period.

You always compare what something will cost you versus the income it actually will produce.