Be prepared to spend a lot of time/energy to do this in Philly but it is possible.

It can actually be less stressful and more efficient to own property out-of-state if you do it right.

It has a value add of making a 2/1 or efficiency in the basement.

It's a lot of work and the numbers can vary dramatically based on Tenants or many other factors.Personally, I don't care to spend that much energy trying to predict the future.

When you talk about sharing in the downside, how do you account for the time, energy, and effort of the sponsor?

It will be more time efficient and cheaper than attending in person classes.

I am trying to determine the most efficient and tax friendly way to do this.  

That’s go to be the least efficient way to get work done.

Um, start looking for a new lender, yesterday.I would consider selling your existing rental and doing a 1031 exchange into a larger, MFR property that will provide better returns and show some efficiencies of scale.

As I am getting organized to meet with my CPA at end of the month, I have realized I could have done this more efficiently.