I’m sure the housing authority would give you soft funds.

Not having experience with Section 8 I cannot say with certainty that you would not pass muster with this property, however if the housing authority does do their due diligence on a property I suspect that any shortcomings will quickly become apparent and would likely sink your chances of qualifying that property for Section 8.

I've been doing this for quite awhile as a real estate investor and author.

.********** makes some valid points, and you dont want to get into a trap where you are suggesting that you will stop a foreclosure, or that you are consulting with them unless you are intending to do a short sale (dont recommend it unless you have some serious patience, and get educated by someone that is successfully doing it in your area).If you are going to try and work the lease option exit strategy by targeting preforeclosures, then getting the deed from them without giving them ANY money (along with a authorization to release information from the bank about that loan), and take the deed into a land trust and you should be ok.

You also need to verify what rent is authorized for this tenant and whether it includes utilities.

Hey there,I just finished reading a book in which the author laid out his average buying, holding, and selling costs for his rehab/flips.

Such as his insurance number and others that he has done business with.This way he holds all the money in his escrow account and can not release it unless it has been authorized by you.These are the kinds of situations that make people sour and untrustworthy of the legitimate investors.I am truly sorry to hear what has happened to many of you, but chalk it up to the cost of doing business.Douglas

I always sign as MY NAME, AUTHORIZED MEMBER.

3) In another source I read, the author recommended that you put enough properties in each LLC to total $200,000 - $300,000 and pursue a commercial loan using those properties.

Sadly though too many times in today's society, (prime example being our President), the amount of effort you put into this or other areas of education no longer seems to matter much when it comes to positions of authority.