The example you give and I have to believe with those facts the GPs are boxed into a corner IE they need to keep raising money or selling guru plans so they have cash flow since their LPS are leaking oil so badly. 

Is this an internal property management company that is compensated on keeping costs low, tenants ( 400 SFR's ) happy so that they stay and pay their section 8?

Got my first single-family rental purchased earlier this year and now I’m on to my next property which will be a section 8 partnership purchase with my sister and business partner.

If there is a net profit AFTER the Section 120 exclusion then you will pay tax.

If you want proof of this, look at every Section 8 waiting list in the areas you are considering.

(I have no stake in this other than I just read this section in the book, and this is not some kind of marketing ploy by me.)

I was wondering if Section 8 will accept battery operated light fixture as permanent light fixture.

Because most bank financing requires personal guarantees, something strictly prohibited by the IRS in Internal Revenue Code Section 4975, therefore precluding you from using leverage.

Your post is under the house-hacking section, do you plan to house-hack and live in this property that you purchase in Jacksonville.If you are planning to live here in Jacksonville, it is important to choose a good neighborhood that you would enjoy living in.I personally like the 5 points/riverside, San Marco and Southside/Baymeadows area.These areas have more resturants/activities than other parts of Jacksonville in my opinion.

If it is section 8, i would make sure they at least have some income coming in to be able to afford to eat, clothe, and buy all the other necessities.