Subsidized housing rentals. Your thoughts?

[Brandon Ramsay]

I have read some different forms on this topic. Lot of them are from quite a while ago. Got a question and would love peoples feedback on what they think.

I am looking at about 10 different vacant properties owned by a np(non profit) co-op that are renting subsidized housing units and struggling with their payments on their units. I am looking to get all of them in a single purchase. Some of these need quite a bit of work, but I can do the work myself so not worried about that aspect. From the info I got, I was told that I would have a better chance of getting the properties if I was willing to keep them as a subsidized rental units because, if the city takes 10 off the list. They have to add 10 more back on to it somehow.

I was wondering what people thought of renting subsidized housing units? It doesn't seem like a bad thing to me as long as you screen your tenants properly. You hear good and bad stories, so would love to hear some opinions or even better some feedback from people who are or have done subsidized rental units.