The DO'S and the DON'TS of section 8 investing

[Justin Frye]

So I recently just evicted both tenants I have in my duplex and I'm currently in the turning over stage. I've  been considering multiple outlets for renting to my new future tenants and came across the possibility of section 8. My rental is in a C class neighborhood with many other section 8 renters in the area and I came across the idea of possibly getting involved. My first problem is that I have absolutely no idea as how to even enroll in such a program, and would also like to know the do's, the don'ts and the positives and negatives that come from renting through section 8.  I have been told by many investors to stay away from section 8 because of the type of renters it attracts but I've also heard the complete opposite from some that section 8 is brilliant and one of the best ways to rent. Any and all opinions are greatly appreciated, lay it on me people let me know what you suggest. Thanks

[Thomas S.]

Success or failure will depend entirely on your local government policies. You are going into partnership with the government and need to thoroughly investigate the local policies and the local section 8 handlers to determine the viability of renting to section 8.

In my area I would allow a unit to sit vacant indefinably before ever considering renting to welfare/section 8 tenants due to the government policies regarding dealing with landlords.

Know who you are partnering with before proceeding with section 8. Even in the best of cases section 8 should be your last business option unless you like the idea of government intrusion in the operation of your business..