Our Philadelphia market overall tends to be a very interesting market and can have low vacancy rates but that is segmented into individual classes of the rental market.

There is a distinct advantage of having local management (whether you or a company is managing).

What have you found out about this segment?

Separate utilities - There are three distinct units in this house. 

I use separate accounts for rent collection and security deposits (distinct from my personal checking&savings accounts), and they don't have to be under an LLC unless the property is operated under one. 

You can probably then as to see units with each distinct floor plan. 

I'm only 23 and I'm trying to figure out a strategy for investing in real estate for the long haul.Is there a distinct advantage of buying properties for all cash, if you're in real estate for the long run?

Call your assessor's office if you want to unpack the calculation.The assessor uses an automated valuation tool (done by a computer with no distinction for condition or level of finishes in a house), so it has all the flaws of zillow.com values, with the additional problem of even being as much as several years old and utilizing even cruder software and mass appraisal techniques.

I think anybody who can't make the distinction and bids on a second will learn from their mistakes, or shouldn't even think of bidding in the first place.But you might consider some further reading:http://www.biggerpockets.com/forums/41/topics/68977-foreclosure-auction-sheriff-sale-and-trustee-sale-faq

A important distinction is that I am not saying that rates will increase, but rather they are more likely to increase than decrease.