Section 8 condo in California

[Account Closed]

Hi guys, I found a few 2 bed 1 bath condo in riverside CA for $50k (same community) It is section 8 approved. But it has an HOA of $250/month I would want to do a a loan for 70% LTV so I can pick up a few of them and still have positive cash flow of about $200 each but I have a few concerns that I was hoping to get some opinions on. 1) HOA is pretty high and I hear that you should not buy investment properties in HOA communities. 2) I hear that it's hard to find financing for a loan size this small. This would be my first investment property and my ultimate goal is keep purchasing rental properties until I reach my "freedom number" Also while I'm asking question, how do you qualify for buying so many homes and not having DTI issues? My primary residence puts my DTI to about 35% as it is. My girlfriend does live with me so maybe I should be claiming her 50% contribution? Thank you in advance !