Jersey City has been extremely hot for years, and like @Michael Klauder said, the competition is quite fierce and you have to know the area well as the "vibe", so to speak, could vary drastically from block to block in these bigger cities.Hudson, Essex and/or Passaic counties have multifamily inventory, a high percentage of renters, and convenient transportation options for your commute into the city, so those would be a good starting point for you.

I’d say it’s extremely scammy.

@Dom Zebrowski, honestly I would start over with the numbers, but others hit on that.My general feedback: 12k renovation gets you some paint and a couple appliances.  

However I would do it all over again because the knowledge that we posses today is extremely valuable.

I would be extremely cautious when you proceed. 

I started purchasing small multifamily in Columbus, Ohio over 4 years ago and have done extremely well.

Philly as a whole is an extremely block-by-block city with ARV values changing by 20-30k depending on the block you are on.

Where my wife and I settled, given our loans coming out of college (and in hindsight they were extremely low interest: 2% on federal, about 3.5% on private, with one small one carrying about 6%, I believe) was to take roughly half of our left over take home and pay down loans, and the rest goes into savings/investments.  

This tenant is extremely disrespectful, lacks basic communication skills and is breaking the lease in more than one way.

Hey @Danielle Du Plooy I use Yvette Mitchell, she is based in Philadelphia, extremely creative and helpful.