Section 8 Rentals

[William Burns]

Hi bigger pockets team, I have been looking at getting into section 8 rentals for around a year now. This will be my first rental property, I currently do not know anyone that owns section 8 properties. My peers have lot of negative things about section 8 but they have no real experience to speak on.

I found a good property that will cashflow well & it currently has tenants occupying the home. I do not like this because I did not screen the tenant but on the positive side the tenant is already living in the home so it is cash flowing which is great. 

Can someone please share their story investing with section 8 tenants? Even is it is good or bad your knowledge is appreciated. 

[Jay Thomas]

Considering jumping into Section 8 rentals in Detroit? Well, that's quite a bold move for someone new to the game!Section 8 comes with benefits like reliable government-backed income, potential tax advantages, and lower vacancy rates. But beware of the downsides, such as strict rules, potential tenant problems, and dealing with the Housing Authority. While people may share their worries, it's essential to consider both positive and negative experiences. Now, an already occupied property might sound good for quick cash flow, but there's a catch – you haven't screened the tenant, opening the door to potential issues. Before taking the leap, thoroughly research Section 8 in Detroit, talk to experienced professionals, and carefully analyze the numbers, factoring in possible risks and rewards. Here's my advice: Section 8 isn't inherently good or bad; it depends on your comfort with risks, your experience level, and the specific property. If you're new, starting with a non-Section 8 property to learn the ropes might be a wise choice. However, if you're ready for challenges and have done your homework, Section 8 could indeed be a viable option for you.