Win, Lose, or Draw in Dallas

[Tony Simmons]

I'm asking for some feedback on this deal that has been placed in my lap. I have two SFR properties valued @ 150k. My purchase price is 120k. The builder is willing to cash back 30k each property (after closing costs, etc. I'll pocket 20k each) Both houses are brand new. The value on the property is there. I plan on buying both & putting them on Sec 8 (govt housing) holding them for 5-7 yrs then selling, but with the rate that I'm getting I'll do a little better than break even after taxes & PMI. I'm thinking this is a no but , everyone else I come across tells me I'm crazy for not doing it.

I thank you in advance for you feedback & input.
God Bless