What about buying highly depreciated SFR and renting them to Section 8? Thoughts?

[Ron Steckly]

Hi,

So I ran across this portfolio, which is kind of interesting because I've been thinking of doing something similar. Buying several properties that are highly depreciated and renting them to Section 8 tenants. This guy is selling his portfolio:

http://www.loopnet.com/xNet/MainSite/Listing/Profile/Profile.aspx?LID=18328677&SRID=3730780398&StepID=101&LinkCode=20280

Obvious problems are making sure none of the properties are in high crime areas. Other problems are quality of tenants.

Do you think these kind of profits are realistic?