Sophisticated investors invest on cashflow where the rents exceed the mortgage plus expenses (and enough money to pay for professional property manage to do our dirty work).Sophisticated investors look at the Rent-to-Value Ratio and look for at least 1% or more to be able to cashflow after expenses.

https://www.biggerpockets.com/blogs/9232/55313-intro-to-section-8---your-perceptions-vs-my-realities

We don't use any software other than excel and quicken.Looking to switch to a more sophisticated software, Yardi seems to be the logical switch but wondering if there is any other program that works for our asset class that people would recommend over Yardi.

If you do figure out an arbitrage strategy, you will make some temporary profits but eventually the computers will detect your wins and start front-running your trades.It helps to have an advanced degree in Math/Physics/Statistics, access to sophisticated simulation software to back-test your trading strategies, and the intestinal fortitude of a Navy Seal :)

That being said the primary reason for not testing this market was the perception of modular homes that Marvin mentions above.

I had the perception that there were other more powerful means to advertised.

and we’ve barely seen a perceptible drop in business.

This is based on personal experience (a drop of water in an ocean - means little) and a perception that the reasons for low income are different between the statuses of undocumented immigrants and citizens.

My perception (and this is more anecdotal) is that the tenant class is a little higher.

This seems like a Sophisticated bunch of Investors on BP so you guys could probably reach an understanding of your markets in 3-6 weeks!