Current rent is too low.

[Jonathan V.]

I'm currently considering a duplex, list price is $45,000, but I've been told I could probably get it for around $37,500. Very low crime area, good location. (I'm from the south in low populated blue collar area)

The units are both 1 bedroom 1 bath. There is a severe shortage of 1 bed 1 baths in this area. It is also located near the hospital so it's ideal for little old ladies.

Now, Section 8 has told me that they really really need 1 bed 1 baths for voucher holders and that at anytime I have a vacancy they can fill it. They pay $400 a month for section 8 1 bed 1 bath.

Current rent for this duplex is $285. Both sides are rented, both want to stay, one has been there 3 years and one has been there 6 months. Both are supposedly ideal tenants.

There is not a lot of deferred maintenance.

What's the play. I realize selling it after acquiring it could take a while, I'm considering holding it for as long as possible.