I live in NYC and I am thinking of buying a rental property in Philadelphia and have narrowed down my search in the Port Richmond and Point Breeze neighborhoods. Both areas seems to have pretty decent rental returns and from what I can see have the opportunity to appreciate in the long run. Since this will be my first property I have been looking at totally rehabbed homes.
I wanted to see if there is anyone here has invested in these areas and what there experiences (good & bad) have been. Were there anything unforeseen that happened? Did you try to rent out the properties yourself or used a rental agency?