Starting out ... again

[Rick Hoffart]

Hello all, Rick from central Texas. About 5 years ago my wife and I set out to buy our first rental property. Long story short, after the purchase my wife asked if we could move her mom and step dad into the home. At the time they were living in a 5th wheel trailer. So, being the right thing to do, we did just that. They are living there rent free and just covering utilities. 

Now recovering from that I'm back at 61yo ready to get my First real rental property. Doing a few days of research, my mortgage guy said "sit on your hands till September, unless you find a great deal." My realtor said she is also going to picking up some rentals for passive income. She also said that a lot of her realtor friends are renting to "Section 8" clients. Knowing nothing about section 8, I went to Youtube University. I was intrigued to say the least. It seem like this might be a viable option in the rental market.

My questions are; 1) Is there a pent up demand of tenants looking for section 8 homes? 2) Does the "fair market price" include utilities? 3) Is there a current good place to do more research?

Thanks for your time