Thoughts on Section 8?

[Blake Bailey]

My wife and I purchased a SFR rental for $200k. We put 20% down, only had some minor repairs before listing. PITI will be $1247/mo and will rent for $1700/mo. (I realize this is more down than most recommend, we just felt more comfortable on this first one giving ourselves some room for error). We have had quite a few section 8 applicants that are willing to sign 2-year leases at full $1700/mo, due to there being almost no multi-fam housing in our county. What should we know about Section 8 from a landlord perspective? What are everyone's experiences?