that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Also keep in mind the location.

He'll still be renting - just from you instead of others, and at all the costs to you that you have enumerated.Your son doesn't "need" to buy a house.  

I like Dundalk because of it's location (easy to get south and 20 minutes away from shopping areas.Any advice on this area?

If the unit is empty, change the locks, clean it, and get it rented.

Learnt lesson not to fully depend on property manager and should have made decision faster by reducing rent .

However, she has requested a Rent Credit.I have no problem letting her clean since that will save us money and allow her to get in there faster.

December is the worst month to try to rent the property.Who determined the rent price?

Sherman or perhaps between McKinney and Sherman.SaginawBurlesonCertain other locations if you can find the right rent/price.

Separately, the benefits and disadvantages of renting to Section 8 is a topic of extended debate on this forum.