Property Management, Section 8 question, Buffalo

[Jathiyah L.]

Hello All,

 Currently working on a flip in buffalo. We've dumped so much money into it, that we may have to rent out to recoup, instead of flipping. 2 questions

- Any one know of any reputable property managers in buffalo area? We work full time and don't have time to property manage?

-Does anyone know the max rental rate for section 8, for single family, 3 BR and 4BR

Thanks in advance!!

[Denice S.]

Is this the same property where you owe over 80k with lots of credit cards?  If so, you may be going from bad to worse.   How much will it cash flow per month as a sec.8 rental in high tax Cheektowaga?  And why are you hoping for sec.8?   

Have you considered pricing it just slightly above break even or a loss so you can take the money and re-group?

This is your first flip and it's bad. However, if you rent it out , you may be more likely to quit investing vs. taking a loss and having enough funds to try again......unless, of course, you have other money to keep investing?  But I get the impression that all of your money (and then some) is locked up in this project.