Although the idea sounds great on paper, I can not get over the fact that the property is cash flowing so well even though market and rent appreciation has dramatically slowed. 

However even the best operating agreement just can't address every possible situation. 

I live in New York City and I am selling an investment property in California, a single family house, and I am planning on using 1031 to buy investment property in New York City.

Even if newer buildings can't price rents as low as yours, they might offer amenities or modern designs that attract potential tenants.Local Economic Factors: Consider local employment rates, major employers relocating, or any changes in the local economy that might impact rental demand.2.

There are even members that will respond here that have ulterior motives, so you shouldn't trust them.Go through the content available here on BP and then start looking for a Property Management Company you can build a relationship with - but, still verify & validate what they do as no one is perfect and even an honest mistake can cost thousands.Some agents may post here to start with them, but 95%+ of agents don't know how to properly identify a rental property to buy.

You need more space and more safety than say, a regular single male would.

Single family, multi family, etc?

Particularly in Philadelphia where there’s a ton of red tape to navigate and construction costs are disproportionately high relative to other markets.Ten years ago I could walk into a district L&I office, complete a two page application and pick up a building permit without plans for a single family renovation the next day.

I'm currently eyeing a turnkey property in that area that looks very promising.If you have any advice on market dynamics, rental potential, or even just the community vibe in these areas, I would love to hear from you.

Heck even guys I have used many times, steal from me.