The government writing checks & printing money until the ink supply is gone.

I'd like to build up some capital before hanging on to properties.

OfgiftYou are both right, kind of.In the sunshine belt there was a huge build up in the early to mid 80's leading up to the Tax Reform Act of 1986 and the Savings and Loan melt down.

The general consensus I gather from those that are actually doing real-estate, or those that build up a doing real-estate image, is that they aren't doing the real-estate because its fun.

According to that ad, which of course may not be reliable, the house rents for 850 and is in move-in condition.850 - 365.54 - 149.42 = 335.04/month profit (minus whatever other expenses I may be missing here.)If you go back and change that mortgage to a 30yr, at 7%, your monthly payment drops to 254.48, so your profit rises to 446.10/month (again, minus whatever additional expenses I am missing).Not a ton of cash but not a ton of work either, and presumably the value of the property increases with time and you build up equity in it without ever paying the mortgage yourself.So why is this such a deal and why hasn't someone grabbed it already?

After I build up enough cash from wholesaling to purchase a few rentals, I would like to rent to Section 8 tenants.

If you mean that you will build up a significant net worth over time, then YES!

Make sure the HVAC system and roof are in good condition and can last while you build up your CAPEX reserves. 

John, at the moment, strictly buy and hold in certain areas of Florida, but eventually once I build up some capital and credibility I would like to also look a little closer to home.  

I’ve had some time recently to build up cabinets in the flavor of the existing units, however tracking down Honduran mahogany plywood is proving to be a challenge.