fudging write-offs or collecting income under the table comes to bite you in the a@@ when it comes to financing whether that is personal or business.

Personally, local is best but without knowing more about you, it might not be a good approach.

@Dominique Guinnane From my personal perspective as a seller I don't care if the offer is below asking or near asking with a seller paid buydown.

I've been very cautious around advising this strategy until I see that the investor has the personal financial position to manage that type of investment.

Before buying, do an analysis of the market that lets you in on its dynamics, link the type of property that matches your set goals and is in line with the risk you can take, survey the possible financial options open for borrowing money, and finally analyze the cash flow of this business before engaging professionals in managing this apartment complex.Conduct thorough checks on possible properties, covering in-person checks, money checks, checking leases, comparing market prices, checking rents, assessing the condition of the property, and looking over legal contracts.

Also, bear in mind that I have no idea about your personal situations and objectives and I don't like giving cookie-cutter advice to people.

Makes the task for your agent even easier if they didn't disclose that fact.It was disclosed that the agent has ownership interest in the deal and he also has a relationship with the title company.

They don't get to sabre-rattle, threatening legal action and still maintain the same relationship with you.  

Do you have any equity in your personal residence?

I'm leaning towards Philadelphia because I personally find the area more interesting, and it seems like a more international city.