Borrowing from the equity must be done wisely, or you will end up with negative cash flow and be at high risk due to over-leveraging.NOTE: I use interest rates much lower than they currently are in 2024!

Starting small with units under $400K is wise, and you can grow from there as you learn more.

I know we are paying more than say a production national builder but our quality is so much better.. the folks that buy our homes are not looking for the best bang for the SQ ft price wise they are looking to have say in upgrades..

Quote from @James Wise: Quote from @Kevin Leipsic: My wife and I have recently retired and are interested in learning how to get started with investing in Section 8 single-family homes.

It looks like you’ve learned the perils of partnering and wisely understand the benefits of investing as locally as possible.

There's not any real difference tax-wise from owning the house in an LLC vs owning the property as an individual.In the case of a neutral cash-flowing property, frankly there's no income.

You might be capped income wise though as many programs require you to be no more than 80% of the median income for the county.

Quote from @Alecia Loveless: I had made a few basic improvements to the lot so my tenants could park there and the developer who controls the ROW is making me get rid of the parking “as it detracts from the appearance of the entrance to his subdivision”.Unless this is some different kind of ROW than I have seen before, the developer doesn't get to tell you what you can do with it appearance wise.

A wise investor will not try to get rich quick with shortcuts.

During this time, it is wise to review the lease and make sure that you're comfortable with it and also ask for proof of payment. 2 to 3 months should be OK.