HCV/Section 8 Housing potential? Norther Virginia region

[Ahmad Aram]

Hi Everyone. If you notice my posting history I am investigating purchasing my first condo in the next few months and am investigating some potential scenarios.

I am looking into living in the unit for a little over 1 year and putting it up for rent either with HCV/Section 8 or finding a tenant through my brokerage(L&F) or other means. 

Anyone have any experience with Section 8 and their requirements for Condos? My immediate order of steps is to ask the condo association if they allow rentals. But not sure if I have to inform them of a potential Section 8 tenant? Seems a bit discriminatory if I had to? Or if it matters? And the percentage of units that can be rentals as another member informed me of this(Thanks!!).

And in regard to rent they more or less guarantee that your mortgage is being paid. With no residual/profit?

Any advice here is appreciated! Interested to hear everyone's experience. I have heard things on both sides. 

Thanks!!