Hello all,
I am 26 years old and I just bought my first rental property ! The 3 main reasons I bought this house is
1. It has a section 8 tenant living there for 10 years
2. The house must be in good/livable condition since the same tenant has lived there for 10 years and it continues to pass the HUD inspection
3. HUD covers 100% of the rent so I dont have to collect any remaining rent from the tenant
4. I am making a 19% ROI so its a great deal
I do have a friend whos in construction live close by so anytime I need anything fixed he can come by.
My question is IF the tenant moves out, does HUD provide me with a new prospective tenant or is it up to me to find one? Also, just out of curiosity, If my tenant moves out, does that mean HUD will cover 100% of the rent of the next house they rents as well? Reason I ask this question is because I want to get a feel of the chances of my tenant possibly leaving and see how hard or easy it is for them to find another house with a section 8 voucher.
Thank you!
