From this, you'll be able to get a line by line idea of what you would need to do.If you decide to improve beyond the market standard, be sure to assess whether the investment required will be paid back through above market rents or reduced vacancy.Sounds like you have a potential value add park on your hands which is an exciting project.

I've only had a handful of instances where the prospective tenant either doesn't have social media or I simply couldn't find their accounts.  

See: https://www.phila.gov/li/pdf/Code%20Bulletins/Cert...In most cases, if the U&O is clear, you have a rental license in hand for the correct number of units as you expect to rent (if applicable), and there are no open permits on the property (check: www.phila.gov/li) then that's all you need.

I like to keep at least 5-10% of the property value on hand.

The site is treasure trove of hand on experience and also many professionals to get where your real estate goals are.

As in your house isn't going to sell like a bottle of water in the Mojave.Note the post by the realtor who is a first hand account of the slow down...."

In general, your returns will be directly correlated to how many Queen beds you have in the unit, how good the pictures are, and how many positive reviews are there.I handed mine over to a management company and I’m expecting to probably my market rent + ~10%.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bpThe second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

Some people want strictly hands-off and are fine with less return in exchange for doing nothing.

On the other hand, if it's recourse, the LLC won't do much for you.