As you take applications from prospective tenants I'd tell them your plans as well.

I listed it for $2,600 and had 20 people show up to the open house, got 3 qualified applicants and the unit was filled immediately.

I have an interested applicant who receives SS and is on Section 8 housing assistance via San Antonio Housing Assistance (SAHA).

S8 Challenges:1) Voucher holders not having funds for application fees or security deposits2) Tenants trashing properties, killing ROI3) Tenants not paying their portion of rent or utilities4) Tenants not cooperating with ongoing S8 requirements or inspectionsAlso, you stated in your initial post that you'd be buying turnkey rentals.

Once you are closed and you filled out the application and everything correctly you are fine. 

Understanding the nuances between theory and application is crucial!  

For the 55+ aspect you need to know more info - any other stipulations to join, transfer fees, application fees, etc etc.Happy to help if you want to send me a dm.

The 'what you get' for the money factor is highly applicable from Brookings to Astoria and licensable STR coastal vacation rentals are still regularly attainable at workable terms, Luxury and oceanfront and lakefront properties tend to perform above the 10% of valuation in gross annual income for prime coastal STR's and as an example I've seen a $2.1 Million Oceanfront home produce $300k in gross annual income.

Requests for loans come in through our interactive loan application accessed on our website4.

And the holding deposit will be returned only in the event that I reject their application.