However; the real estate market here hasn't stopped at all, and it's blazing.

I.E. you know the area better than others.Is there a short-term rental market where you vacation at, where you went to college or where you grew up in?

I tried attending one in my local market a couple of times but felt like I was in some hotel ballroom being pitched on how the 12 year-old kid up in front would teach us all how to run to the back of the room to swipe $10K on our AMEX for the secrets of real estate investing.

Purchase price: $73,000 Cash invested: $25,000 Current market rent $1295 vs $1300 for Section 8.

We manage several hundred rental properties throughout the San Diego market and I found your post very interesting. 

Remember syndicators are marketers first and operators (sometimes) a distant second. 

The house hadn't been on the market long. 

You can also check their reviews online at Google, Facebook, or Yelp.

Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

Prior to viewing with clients, I am usually have an idea of the general area, vacany rates, market rents, and property types that suitable for LTR.