Question: Section 8 housing - Inspections

[Donnie N.]

Hi,

A few questions on section 8 property. (hoping the kind folks on here can point me in the right directions) I have one now in Illinois. Acquired it earlier in the year. The questions are:

1) It needs an inspection every year correct? If so, where do I go to find more info on this? On HUD?

2) How long does the inspection take? When should I conduct it? The lease is up in October.

3) Do I have to be there or can I just have my property manager there?

4) How do I adjust it to the fair market value? I think it’s lower than what it should be based on my research.

Thank you in advance for any advise.

Donnie