Section 8 in San Diego, more beds than I can handle!

[Bradley Kirschbaum]

I have a 7 bed 4 bath renovated house in North Park of San Diego, CA. Specifically in the 92104 zip code. I have a section 8 renter that I’d like to rent to, but the public information on what I would get per bed in this area of the city limits is unavailable. Any experiences voices able to help me understand how the hud reps will look at my asking rental price (asking $5,500, I’m paying all expenses). The tenant makes 65k a year, as that’s a factor. She has 9 children, and I’m the only show in town that could fit her situation right now. I’ve extrapolated what the city (she has a city voucher, not county) may pay for 7 beds on my property based on public info on 5 beds. I also understand they’ll have her pay 30%, and up to another 10% without hud’s support, but that’ll be the limit. Please fill me in on what to expert IRT my asking price and if there are any items I should be aware of come inspection day that will affect my rental rates. Thank you!

[Jordan Graham]

Hey @Bradley Kirschbaum,

Any updates on this question? From my research, I have noticed that the HUD Fair Market Rents website only shows up to 4 bedrooms... they must have options for properties with more rooms?

I am very interested in getting into Section 8 housing in this market. Some neighborhoods you can get up to $5,400 a month for 4 bedroom SFH's in somewhat affordable parts of the city like inland Carlsbad, Mission Valley, and Tierrasanta.

Do you think Section 8 is worth the extra effort in terms of government red tape and delayed inspections versus house hacking a SFH and renting out each bedroom instead? I like the idea of guaranteed rent, especially in turbulent times like the COVID-19 outbreak.