This post is old but I have known services that help section 8 (now known as Housing Choice Voucher program) tenants and match them with landlords.Some Real Estate agents may be able to help as well.

@Alan Lacey so if someone had no job they would still be approved for any cashflowing property that brought their DTI up to sufficient ratios? 

Unfortunately there is no magic template that works everywhere and we often let the market drive choices as that is what will put $$ back in our pocket.

It is possible to quit your day job, but you need a plan and sufficient income to support the decision.

Many lenders, including my group, offer a DSCR product to refinance on the back end as well.Before taking out a loan for a BRRRR project be sure to calculate all carrying costs (taxes, insurance, utilities, HOA, loan interest, etc.) to ensure (i) you have sufficient cash to cover monthly payments for at least the duration of the project and (ii) your estimated rent after repairs is at least 1.10x PITI (monthly refinance loan payment principal and interest, taxes and insurance).We have a proprietary BRRRR cash flow calculator tool that we share with our clients to help reliably assess costs and returns for these types of projects.

Being in a price point that typically caters to moderate earners, so affordable to their incomes, but also having a tenant base that is more likely a renter by necessity than choice (or the non-PC way of saying it: a tenant that can afford your rent without struggling, but can't afford to save up to buy a house).3.

do NOT take a long PPP right now unless you have no choice. will be VERY expensive in the future when you are stuck in a higher then market rate. 

If I had a choice I would definitely pick the new construction.

For Regulation D, Rule 506(c) Offerings - self-certification is not usually sufficient as the Issuer of the Securities (sponsor or manager of the offering) has to be "reasonably assured" that you are Accredited.

Richmond, VA is a great choice for real estate investors due to its diverse economy, affordable property prices, and rental demand from universities and young professionals.