Finding Section 8 Demand

[Michael Garrett]

Morning BP’rs:

Despite the host of lessons learned with this first investment property (for another post) I wanted to ask the community about focusing efforts on Section 8 housing. Inherited tenants in a triplex and they are not the most responsible. Looking to turn triplex into 2, 2 bedroom duplex. My question is: what is the best way to find out demand for HUD housing? I looked at local website and saw no available listings as if I was a tenant looking. Is it as simple as a call to the local HUD office asking about waitlists and needs?

Second question: Using the FMR website; how much of that number is given to the landlord by the tenant? Or is any of it? Fair market rents for my zip code are good at 2 bedrooms and are about $900. Purchase price of 106,000; renovation costs not estimated yet, but cash flow could be very nice and once it's stabilized should be a nice cash out refi possibly. Not to mention being able to help a deserving family. Think I can do some real good.

Thanks in advance,

MG