@Matt Devincenzo I agree - Section 121 Exclusion applies in this case. 

The tenants love her, she stays on top of maintenance, has implemented upgrades to improve the property and drive rent increases (much to my dismay, LOL), organizes fun themed events with catered food for tenants, manages evictions and oversees the building's Section 8 program.

BiggerPockets has a section just for this, Under the BUILD YOUR TEAM tab- then select- MEET UPhttps://www.biggerpockets.com/forums/521Best of luck to you!

However, the property in question is in a pretty good location: adjacent to a garden run by the city council, less than a block from a brand new park, and kiddie corner to a church/Catholic school.

We used to just say we no longer participate in Section 8 program but new laws eliminate that option.

My concern is the rough looking Valero corner gas station plus area around the gas station coming off the highway exit to go down the street into the Lennar subdivision. 

I have a STR in Four Corners and it has been a non-stop battle with the bottom feeders for occupancy.

People frequently try to specialize in Section 8 in these areas.  

The catch is that the populations are all recent.. recent as in, massive booms in the last 40 years when suburbs ruled the development world, and density didn't necessarily increase except in the most urban and highly commercialized sections of the city (city centers primarily, which is mostly class-A prime real estate). 

If the goal is higher cash flow, I would look at more midwest markets, or some of the Georgia submarkets and rent out the properties as section 8 rentals.