My partner is also a real estate agent who mainly specializes in the center city metro area of Philadelphia and the surrounding boroughs of Philly a.k.a hot markets.

Plus, you happen to be in a very hot area for rentals.

We have a 30 yr Conventional at 5.5% on a single bed condo unit that we rehabbed, rents at 1100 and have cash flowing 380/month (before capex-not sure how to calculate because HOA covers roof and hot water heater, we'd be on the hook for heat/ac unit).  

Would love to see it get hot. 

In December, I had a Hot Water Leak that did some severe damage and I NEVER heard a word about it, I had to see the initial Water Extraction Bill show up on my Online Statement and I had to email them to ask what happened!! 

Cherry picking the MLS in a hot market like mine is very tough, so I send out a lot of offers that don't get a response, but hey if it was easy ... 

If continuing at that rate, it would be down to 4.2% by the end of 2016 - and only breached that level in the hot '99/2000 market, which is the lowest unemployment watermark for almost all areas.

If continuing at that rate, it would be down to 4.2% by the end of 2016 - and only breached that level in the hot '99/2000 market, which is the lowest unemployment watermark for almost all areas.

I have a 6-plex with shared water, electricity, hot water boiler, and heat.

John the plan is great, the problem is the market is hot, and finding the properties.