We just bought our first investment property in Pittsburgh and just waiting for escrow to close. The house needs quite a bit of interior rehabbing, but the exterior is not bad at all. It looks as though the previous owner of the house had done alot of improvements such as replacing all the windows, added vinyl siding and painted the exterior. We spent yesterday pricing plumbing fixtures to install in the bathtub and just making notes of what needs to be done.
The best part is that we were talking to one of the neighbors and she told us about a friend of hers that is looking for a 3 bedroom house to rent. The friend came over and we met and discussed how long rehab would take and she is very interested - actually she wanted to fill out a renter application and leave a deposit.
Now, off to work on this one and start looking for another.