I didn't make much money, but the most valuable aspect of the experience for me was learning how to find crafts people, acting as my own general contractor, and then learning what order in which to do repairs and improvements.

I chose to convert to a long-term because my time is more important than a little more money.

A good PM will keep you out of trouble and typically make you more money than they will cost you.

Depreciation: For investment properties, you can depreciate the property over a set period, reducing your taxable income.5. 1031 Exchanges: This allows you to defer capital gains tax by reinvesting the proceeds from a sale into a similar property.Feel free to ask any questions or share your own experiences!

Feel free to reach out if you'd like to discuss further. 

It will make borrower money easier and cheaper.

I hear a lot of investors complaining about the Philly market and saturation in specific pockets, but early there are still people making money on these deals. 

Cashing-out the equity every 5 or 6 years on a refinance is TAX FREE., while cash flow is taxed.

Your money is working for you in two places at once, you get insurance, and you can repeat the process with very competitive rates and flexibility (particularly for fix/flips).2.

You need money; the fastest way to do that is to start a business or get another job.