But Port Richmond definitely has a larger supply of multi families, which may make it easier to find you a good one. 

In our view, we want it to be a popular area and we think we can outcompete the competition vs. being in an area where there is little supply and demand. - Our model oftentimes focuses on renting private bedrooms during the weekdays and renting out the entire property during the weekend.

What would you look for in a good rental property market in terms of levels of supply and demand?

For plumbing related items we go to a local plumbing supply place we have a relationship.

(Anecdotally, I'm seeing this happen now which is why Cape Coral has a two-month's supply of home inventory currently.)

What's the supply/demand for rentals? 

Either way supplying the info before is better than trying to fight later.Same with any improvements you have done.

I'd look long term where job, income & population growth are strong where supply will be hard to keep up.

You have energy, age and ambition on your side, and some nest egg to get you going, however, three rentals is a bit on the skinny side, unless they REALLY cash flow.First thing you need to do is to supply yourself with enough to pay the daily bills.

@Stephen Keighery  I generally have not priced out individual prices like you have listed, but can provide some data for some of your items.Replace plumbing (all drain and supply on raised, all supply and drains only above top of slab) - I use $700 per fixture as a general rule, not including replace of the main drain under slab houses.