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Updated about 3 years ago,
LTR acquisition with Section 8 tenant with previous unpaid dues
Hello, this is one of my first posts. I am a beginner investor seeking to buy my first duplex. Numbers look great, both units are currently occupied and both tenants wish to stay.
However, one tenant is currently covered 100% under Section 8, and, upon reaching out to the seller agent to learn more they mentioned that this tenant has an unpaid balance of about $300. Being that this is my first time dealing with Section 8, I have no idea what an unpaid balance could mean and have not been able to learn more from their agent about this.
Is this a warning sign, something to do with Section 8 or could be a handful of reasons as to why a small balance is owed? I would greatly appreciate insight from others. Thanks!