The obvious pro is government subsidized rent but are there more pros?

People buy homes in residential areas, not business districts, so when someone starts running a business in a residential area, the externalities are beyond what people can be expected to put up with, and the government can regulate. case in point - parking.

Despite receiving government assistance for a decade, they're still incapable of paying their portion on time or appreciating what they've got.3.

This insight underscores the importance of understanding the specific legal requirements governing lease agreements in different regions. 

What business entity you choose is governed by your State’s laws.

In MLS systems that use the Core Logic Matrix system, which is about 50% of MLS systems nationwide, square footage is pulled directly from the governments tax records.Additionally, there is no standard way to measure square footage.

However, if you are worried about being sued, you should use the best level of protection that you can afford.Your state laws: The laws governing asset protection vary from state to state.

Looking for the areas that people and government are pumping money into.

Dealing with government bureaucracy is part of the reason we avoid Section 8. 

I have wondered though if there are government grants/tax credits for providing internet to low income tenants.