Section 8 tenant for a Newbie

[Maya Kherani]

Hi all! 

I'm new to BP, but am loving all the info and comments here. 

My husband and I are looking into our first rental property purchase (SFR in Texas), where the long-term tenant of 7+ years is under Section 8. Section 8 pays about 80% subsidy on the market rent. I'm wondering if we should steer clear of a Section 8 tenant for our first property. I know there are more rules and paperwork, and not that I'm not willing to learn the ropes, but I have a feeling it might be a bit too much to chew off for our first deal.

Thoughts? Steer clear on this for our first property?

[Bjorn Ahlblad]

If the numbers work and the tenant has not trashed the place, he/she is an asset-at least in my view. Month to month is better than a lease anyway, it is easier to replace than evict, and way more pleasant. All investments carry some risk; but it would seem two of your main bases are covered. Let us know how you are making out.