When I was younger, I had promotions and job re-location, and that's a sore point for me if the landlord grabs my raise for having to move to a better job.

At least with the REIT's you get diversification and the minimum is very low.As far as pooling money with others, all people in the deal have to be accredited.

Which tends to limit your buyer pool.  

Lists like "10 things a landlord must know" that can be read in a minute and make someone feel good but leave them with no real information or direction.

I generally think it is a good idea for someone to get use to home ownership and land lording, decide if it is for them after give it a try before jumping into their next property. 

Any other useful advice on Landlording, Philly, etc. is also appreciated.

They focus on landlords as one of their niches.

@Jake Parks - If you're pooling money together and providing a return for people/there is an expectation of profit for someone else and that other party is not involved in the decision making/management of the deal , then you are creating a security and the answer to your question is a resounding yes.The big thing you have in your favor with partnering up with family and friends is that you have a relationship with these people already and that's the biggest thing that the SEC is looking for.

Until you officially take ownership you have no authority to offer any changes.You need to spend time studying your state landlord tenant regulations.

This is one of those items that you know you might deal with as a landlord, it's one of the risks.