Starting out...S8 but $1350/mo Cashflow

[Christopher Bell]

Hey BP!

Just wanted your expertise on this. I've flipped 3 homes and taken a bit of a break. However, looking to drive into what my dream has been and that's rental properties. I've looked into the BRRRR strategy and will continue looking for prospective deals to BRRRR.

Here's where I stand:

I came across 2 properties in the same neighborhood that could be acquired for about 105k each. I have the 20% down through conventional lending to acquire the properties. The properties carry a $1,100/yr tax and 188/mo HOA. Appears The total holding cost would be about +/- $725/mo. No additional income from parking spaces, laundry, etc. Now, they both would Section 8 cashflow about $675/each resulting in about 1300/mo cashflow. I drove the area and it's not the best/not the worst. Definitely not an appreciation speculation for these properties. However, starting out I think $1350/mo cashflow would start me in the right direction.

Now, how many would think starting out it would be a good idea to dive into 2 S8 homes. I've read through the pro's/con's and read through horror story after horror story and still many people have good things to say for S8. 

Would you look to go this direction?

I'm located in Maryland and the housing market is pretty steep in this market. I'm in between Washington DC and Baltimore so your average SFH goes in the 250-275k range.

Thank you again for any input!!! I've learned so much from the BP site.