The program was created to give low-income tenants an alternative to living in federal project housing.S8 sets their rental rates to the LOW-END of market averages, if not slightly below.

Whether bank or credit union - either will work. 

Looking for a house we could house hack, had an incredibly low interest rate on mortgage and house has increased in value about 42%, an estimated 180k in equity.

I’ve been a serial house hacker in the greater Boston area so happy to connect and share some lessons learned.Multifams inventories are quite low depending on your budget and location preferences.  

But I'm guessing maybe your credit is too low for that?  

Fico while they will look these are not credit score driven loans like those buying rental houses or houses to live in...

It simplifies the process since Zillow handles credit, income, and background checks for a small fee paid by the applicant.Background Check Services: If you prefer not to use Zillow, consider using services like MySmartMove or RentSpree.

I've never really done a deep dive in analyzing the area because it is a retirement community, median income is very low, and there arent a lot of jobs in the area.

That will be a determining factor for where it makes sense for you to purchase.Regarding waiting - bear in mind a lot of people were predicting rates in 2024 would be in 5% range or low 6s, which didn't turn out to be the case.

In neighborhoods that won't attract high credit score tenants, I've found that a stable job history with a MINIMUM of 1 year at current or previous job to be the best indicator of a great tenant.