Section 8 Property Purchase Opinion

[Hai Le]

Hello guys, I'm getting into the Section 8 investing and just wanted some feedback on a property I'm looking to purchase out of state.

4BR 1Bath SFH, Mortgage payment is $917.37/M-$955.12 for a 30YR Fixed Rate at 7.13%, 80% LTV I am putting down $23,800. Looking to structure the deal with concession's to come as little out of pocket as possible so I have different offers in mind, but the payment is between the ranges.

I figure another 20% for Property Management, Vacancy, Maintenance which totals to $1,100.84/M-$1,146.14/M. 

Section 8 Payment Schedule for the 4BR in the location is $1,670/M & the County Housing has a payment schedule of $1,832/M; so net cashflow would be $523.86-569.16/M at $1670/M and $685.86-731.16/M

Property is turnkey is needs just a cleaning for tenant ready. Just wanted thoughts and opinions on this property & deal. It is in a good neighborhood and on a slab so little structural issues to worry about. All big ticket stuff are taken care of & newly replaced.

Thank you for your feedback!